NZ well positioned for 2050, says Economist executive editor

“Surpringly well positioned for 2050”. That is how Daniel Franklin, editor of The Economist summed up New Zealand’s long-term economic position.

Population growth was cited as a critical driver for growth, much the same as the Asian economy. That same Asian economy will be relied on to sustain continued growth also says Franklin.

“New Zealand is surprisingly well positioned for the world in 2050 for a number of reasons. It’s close to Asia where a lot of the economic action is going to be, and it has a relatively big agricultural sector in a world that will need to feed nine billion people.”

“The implications are even more dramatic than the actual population numbers suggest. The world’s population is not only increasing but also getting richer.”

The rising middle class of Asia will shift demand for higher quality products, a growing market where New Zealand has substantial expertise as well as a global reputation that precedes all exports.

On where New Zealand could improve, Franklin offered a word of advice.

“My main piece of advice for NZ is to stay open ­– to trade, to other people and cultures, and to ideas. There’s always the temptation when things are changing very fast around you to close up. New Zealand needs to compete in the world of ideas and the more open New Zealand is, the more likely it is going to be able to take advantage of the opportunities.”

A video of  Franklin’s presentation is available below including the Q+A session that followed.

Dr. Daniel Franklin at the New Zealand Forum.