Recession worries? Blame China's economic flu

Dominick Stephens (centre) and Struan Little (right) spoke at an Auckland Chamber event moderated by Simon Bridges. (Image: BusinessDesk)

Dileepa Fonseka

Thu, 25 Jul 2024

A senior Treasury official says New Zealand's economy is worse than originally forecasted, and much of that is due to China. That's what Treasury’s chief economic adviser, Dominick Stephens, told a business audience in Auckland on Wednesday morning – reminiscent of the adage that when the United States sneezes, the world gets a cold, but tweaked to include China’s sniffles.“Treasury has for quite some time anticipated a recession, a downturn … we had been foreshadowing it for some time, but with the B...

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