Cheap imports
Sir, —B. Mclntyre and K. Hughey (June 22) defend cessation of production by Lichfield and replacement by imports. Such policies have led to spiralling import demand. Imports had to be restrained by reducing New Zealanders’ spendable incomes through unemployment, low wages and painful Government expenditure cuts. Yet foreign debts to finance excess imports, etc., rose from SIB in 1975 to more than S4OB now. Prosperity and full employment in New Zealand lasted from 1938 (Savage) to 1969 (Holyoake) based on protection. The fallacy of free traders is that sacked workers will be re-employed elsewhere. The fact is that money saved by cheaper imports is not spent in New Zealand. Thus free trade leads to permanent mass unemployment and the degradation of New Zealand to neo-colonial Third World status, with occasional prosperity for low labour cost exporting employers.—Yours, etc.,
W. ROSENBERG. June 24, 1989.
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Press, 28 June 1989, Page 16
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145Cheap imports Press, 28 June 1989, Page 16
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