Our Future, Our Youth

In a rather bleak year in which our exporters are battling the high dollar in the face of high interest rates caused by high Government spending and rising compliance costs, it is reassuring that many are showing resilience and soldiering on.

Earlier this week, this attitude was reflected in the very well attended one-day Action Asia conference in Auckland. More than 500 people went to hear what they could do to do to ensure their exports to Asia captured the rising economic wealth of the region's middle-class.

One of the keynote speakers, Clyde Prestowitz, founder and president of the Economic Strategy Institute in Washington, spoke about the 'Three Billion New Capitalists' and the shift in wealth and power to Asia. His dire and bold analysis of the economic situations in the USA and Asia captured the attention of many.

Mr Prestowitz predicted that the USA's currency may eventually devalue by 70% due to heavy borrowing and a worsening balance of payments, which is at 7% of GDP, while China and India are fast becoming both import and export countries due to the rapid increase of the new rich and middle classes. Going by current trends, China will become the world's largest economy by 2030. We were also presented with figures that showed both China and India's imports had doubled, while New Zealand's share had only increased at a fraction of that.

One of our leading exporters, Beca Carter, said the treatment of tax on overseas earnings needs to be addressed, we need efficient processing within immigration, and positive changes to the immigration rules. Others said we need leadership and a commitment to act. National's Deputy Leader, Bill English, made the call that we need to take advantage of the expertise and networks of Asian New Zealanders, and this was repeated by others throughout the day's events.

Another keynote speaker, Mr Yongtu Long, the Secretary General in the Boao Forum for Asia, singled out tourism, education and agriculture as three important areas for New Zealand because of the importance that Chinese place on our clean, green image. If Asian and non-Asian Kiwis join forces we can move ahead a lot faster to take advantage of opportunities in these areas.

During the past month, I have been encouraged by events here that will enable us to take advantage of the growing Asian region. Young Koreans have organised future leadership training workshops to sharpen their communication and networking skills. Young people from Australia and New Zealand recently gathered for a three-day conference at the Buddhalight temple in Manukau. Those attending were all bi-lingual, full of energy and all confident about working among many cultures. Then, of course, the Youth Parliament has just wrapped up in Wellington, with 8% of the Youth MPs from an Asian background. I have also been approached by young Indians seeking my advice on how they can organise leadership seminars. My winter blues have been warmed by their drive and energy.

The parents of these enterprising youths have paid the price to enable their children to flourish. Many would have had to start another career or enter a different type of business when they came to New Zealand. Many would have been unemployed, or underemployed, due to lack of local knowledge or a proficiency in English.

New Zealand has gained from this migration. I bet that many people would be surprised to know that two successful Chinese New Zealanders have been inducted into our Business Hall of Fame. They are Mr Chew Chong, who pioneered exporting of our diary products, and Mr Ah Chee, who started the first supermarket in New Zealand. Their English ability may not have been up to the current immigration requirements but their business acumen was second to none.

While their descendants don't have to face language issues, they are increasingly making the choice to go overseas for better opportunities and more pay. While the rise of Asia is a positive opportunity for our economy, the region is becoming increasingly attractive for young people who have the necessary networks and language skills.

We need our talented youth to believe they can have the same opportunities here or encourage them while in Asia to be actively involved in trading, or other opportunities, with New Zealand so we aren't left behind.

Pansy Wong

ENDS

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