Economist Podcasts Loved Labour’s won: landslide in New Zealand
Oct 19, 2020
Eleanor Whitehead, an Australia and New Zealand correspondent for The Economist, discusses the Labour party's surprising electoral victory under Jacinda Ardern, focusing on the public's high expectations for transformative changes. Alongside her, Simon Wright, the industry's editor, highlights the container shipping sector's surprising resilience despite global trade challenges. They also delve into the ethical dilemmas museums face as they consider selling artworks to maintain financial stability, sparking debate about the true value of art in today's world.
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Governing Alone
- A key difference in Ardern's second term is Labour's ability to govern alone, giving them more responsibility.
- A potential coalition with the Green Party is possible but not essential for governance.
Economic Challenges and Recovery
- New Zealand's economy entered a recession due to the pandemic, with rising unemployment and a contracting economy.
- Ardern's recovery plan, focusing on infrastructure projects and limited tax increases for top earners, is seen as incremental.
Shipping Industry's Unexpected Success
- Despite a drop in global trade, the shipping industry, particularly container shipping, is expected to have a profitable year.
- This unexpected outcome is attributed to shipping companies' control over capacity and reduced supply.