Education Policy | Post Primary | Preschool | Primary | Tertiary | Search

 


Downed Malaysian Plane Could Impact NZ Economy

MEDIA RELEASE: Wednesday July 23, 2014

Downed Malaysian Plane Could Impact NZ Economy

The shooting down of Malaysian Airways flight MH17 over Ukraine may yet have an impact on New Zealand’s economy, says a Russian economist from Massey University.

Associate Professor Sasha Molchanov says that while the tragic crash happened on the other side of the world, its impact on public sentiment and international relations will have global reach.

“An event like this can definitely affect New Zealand’s economy,” Dr Molchanov says. “Even thought the investigation is far from over, negative public sentiment is very strong and European and Australian-led sanctions are a distinct possibility.

“Our economy may also be hit by volatility in the global equity and exchange rate markets. Because risk sentiment is strong, and the New Zealand dollar is a high-yielding currency, it may experience a drop in demand.”

But Dr Molchanov says few New Zealand companies will be directly affected by the crash of MH17.

“New Zealand exports to Russia are fairly modest at about $260 million per year, or 0.5 per cent of our overall export volume, and it is unlikely that New Zealand will impose bilateral trade sanctions,” he says.

“Meanwhile, the free-trade agreement negotiations with Russia had already been suspended, thanks to the previous crisis in Crimea, although this latest incident will mean negotiations will not re-start any time soon.”

This is a blow to any exporters eyeing up the Russian market.

“Even though export volumes are currently small, they had been growing consistently until the eruption of tensions between Russia and Ukraine. The future of that export growth is now in jeopardy,” Dr Molchanov says.

He says exporters to politically-risky countries always face the prospect of their operations being compromised by an adverse political event, but the situation in Ukraine and Russia is particularly severe.

“One way to measure the severity of a political crisis is by the number of nations involved – and that number has increased dramatically in the wake of this crash.

“If there is a silver lining here, it is that the intense public pressure to investigate what happened to MH17 may help to bring hostilities to an end.”

- ends -

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Review: “Salute” By Royal New Zealand Ballet In Wellington

The Royal New Zealand Ballet performed “Salute” for a final time in Wellington on Sunday night, and it was nothing short of spectacular. More>>

ALSO:

NZ on Air: More Funding For TV Captions To Increase Access

More funding for TV captions to increase access NZ On Air has increased funding to provide more captions and audio description on television programmes for the hearing and sight impaired. More>>

Music: So Laid Back Country China Album Release

On Friday night, So Laid Back Country China held a gig at Meow for the release of their new album With Knees of Honey in Goodbye Canyon. I briefly spoke with Harriet lead vocals, keyboard) and Michael (lead vocals, guitar) before the gig More>>

Art: Wellington Region Celebrates Matariki

Eight Wellington museums and galleries have joined forces to present a major programme of exhibitions and events to celebrate Matariki 2015, the Māori New Year. The Wellington Matariki Festival will host more than 60 free events and activities between Saturday ... More>>

Wellington: TEDxWellingtonWomen Speakers Unveiled

The lineup is announced today for the highly anticipated upcoming event TEDxWellingtonWomen. Speakers include local women and men who have lived extraordinary lives and have ideas worth spreading. More>>


Books: Witi Ihimaera To Address ‘State Of NZ Literature’at Festival

6 May 2015 MEDIA RELEASE Witi Ihimaera to Address ‘State of NZ Literature’ at Dunedin Writers and Readers Festival The New Zealand Book Council has chosen the 2015 Dunedin Writers and Readers Festival as the stage for its annual address, which ... More>>

Culture: Historic Māori Portraits Travel To The Czech Republic

Image credit: Gottfried Lindauer, Wahanui Reihana Te Huatare, oil on canvas, Auckland Art Gallery Toi o Tāmaki, gift of Mr H E Partridge, 1915 More>>

Art: Something Felt, Something Shared - Enjoy

Gabrielle Amodeo, Ruby Joy Eade, Clare McLean, Kalya Ward Curated by Emma Ng May 7 – 30, 2015 Opening: Wednesday May 6, 5.30pm Strange frequencies are channelled through personal narratives and poetic placeholders in Something felt, something ... More>>

Culture: Pukeahu Park ANZAC Day Commemoration 2015

Pukeahu Park ANZAC Day Commemoration 2015 Images from New Zealand Defence Force Click for big version A bugler plays The Last Post Click for big version A View from the top of the Carillion Click for big version Faces old and young Click for big ... More>>

Television: MediaWorks Announces Dancing With The Stars Hosts

MediaWorks and BBC Worldwide ANZ are delighted to announce host Dominic Bowden alongside co-host Sharyn Casey for the hit series Dancing with the Stars. More>>

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Education
Search Scoop  
 
 
Powered by Vodafone
NZ independent news