New Zealand businesses should have a China strategy whether or not they are doing business there, says Kiwibank chairman and former Hong Kong based investment banker Rob Morrison.
He said a fellow banker had once described China's power in simple terms that "Whatever China produces will go down in price and whatever it consumes will go up in price."
And that was roughly true.
"Whether or not you are investing in China you have to have a China stratgey because China is a key variable in pricing of almost anything," he said yesterday.
Morrison was speaking at a symposium in Wellington hosted by Victoria University and the NZ China Council to mark the 40th anniversary of diplomatic relations with China.