Domestic And International Policy Formulation Essay

2819 WordsSep 4, 201412 Pages
At the core of both domestic and international policy formulation is the underlying issue of the financial enrichment of the state structure and the individual. It is undeniable that significant transformation of global economic norms has occurred since the advent of the neoliberal age in the mid 1970s, and the subsequent promotion of government non-intervention, deregulation and trade liberalisation. New Zealand’s is no exception to this trend, and our transition from British colony to independent constitutional monarchy with a unique set of values, ideologies and national identity has paved the way for our nation to branch out into the newly expanded global market. Indeed, the development of New Zealand’s domestic economy and trade policy has undergone a seismic shift which has drastically altered our national patterns of trade since 1929. While export trade to the East is still in its infancy, it is becoming increasingly clear that there is a growing demand in the East for New Zealand agricultural products such as wool, meat, and dairy products. This essay aims to use the analysis provided by McNair in his article “New Zealand’s Trade with the East” as a comparative tool to describe the transition of the Eastern global region from one of New Zealand’s least influential markets, to one of its greatest. Furthermore, it aims to examine which economic theory best explains this increase in instances of trade over time, namely that of the Product Cycle Theory. As such, the
Open Document