The economy
Sir, — There appears to be a polarisation in some minds that it is either free market or controls. That is not so. President Reagan recently called a meeting of trading partners to talk the dollar value down: it worked. The Japanese Prime Minister recently went on television exhorting the Japanese to buy more foreign goods, which has not worked. Both cases were interference in so-called free market operations, but acceptable interference, as the dollar was too high and Japanese trading credits are too high. In America a formula is being sought to stop money fluctuations between trading partners, some European countries already have such a formula. Is it not ludicrous then, for New Zealand to try and absorb extreme upward dollar values when it has record trading debts overseas? Lowering living standards, which is Government policy with GST to share the burden of decline is a cop-out. — Yours, etc, J. SHARP. December 6, 1985.
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Press, 9 December 1985, Page 16
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156The economy Press, 9 December 1985, Page 16
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