* Look to the largest markets, use digital, think big data, and make pragmatic decisions
* Develop high worth models to extract value from the largest global markets and retain that value for NZ
* Ask the right question; and it provides half the answer.
Here are a few questions.
NZ is first up in the morning over the international time zone. Yet does it offer and capture value to offer to the rest of the world as it wakes up afterwards? Does NZ instead wait and see after the rest of the world wakes up to report? Does NZ media "copy" (re-edited) the international stories as they come out and sell them on to NZ as latest news? Is NZ media generally reporting after the fact, and captured by government in order to have content that is still providing real-time news? Commercial and digital opportunities are lost with reliance on dated data collection and slow reporting.
Ministers wait for the last quarter's reporting to find out how the present might be performing; while world events have already past NZ by and media are feed last quarter's statistics.
How can NZ make decisions in such historic bubbles with respect to literally billions and billions at risk in the market in volatile times? It must seem easier to just stick to the slow path when infrastructure is also slow and lagging.
Where are the big NZ data centres that can service exponentially growing global demands so that NZ can tap into some of the largest markets and trends worldwide. If NZ becomes reliant on big foreign data centres then it exposes itself to massive risks. As it has already by being reliant and dependent on China with many other nations that pursued cheap goods and turned a blind-eye to the cheap labour practices. Massive disadvantages will arise where NZ seeks to trade with partners that are not on a similar level playing field. Whether politically or financially.
Consider joining the 10th June B2B Digital Fintech Expo ! To see the changing world.
Take one of the largest markets in the world for example with a $6.6 trillion per day turnover. The FX market. How much value from that market does NZ capture on a daily basis? Does NZ just allow larger players to control the destiny of NZ?
A NZ wide model that taps into this immense market alone would provide massive employment for NZ nationwide. It would lift employment to globally impressive levels. It would send government core tax revenue levels through the roof and clear debt so fast (if managed properly) so that there would not longer be a problem for the next generation. It would create long term career opportunities respected worldwide. It demands digital big-data centres and broadband standards nationwide yet to be seen. Bank sector revenue would climb to new levels. Thus allowing property and business finance to grow again. But banks are sending profits back offshore!
Where is the legal structure to prevent such growth being transferred offshore? Vision is being sought while not recognising other nations similarly are looking and acting to also capture value and bring it back to their own home.
Where are the incentives to keep value in NZ? Where is the structure to prevent concealed soft-core double dealing and manipulated market practices. Politicians and regulators captured by self-regulated and self-reporting sectors. Some of the largest sectors that influence NZ's economy on a very large scale are operating with impunity in a self-regulated and self-reporting regime. Banking and Insurance to name two. Instead Government seeks to fund social responsibility pools with funds that end up with little accountability, little in results, and after the fact give lessons as to how funds disappear but won votes.
Top management in NZ tend to prefer to secure and protect their impressive elite careers and incomes rather than focus priorities on growth and pragmatic value capture - both in the private and public sectors. E.g. How many years did it take Fonterra to oust some who sent it down a dead end road. See the share price below and compare.
NZ has access to some very good high end IT and big data developers with algorithms that can identify when markets bottom or top out. When trends end and start. But they have to go offshore as NZ government holds back on development, while funding low productive sectors. Value lost once again.
Where is Government pragmatism vs a preference for selling and funding ideology? Take AirNZ.
The Government currently owns 52%. Where is the pragmatic approach? Compare the share price below since 2003 and that of Amazon. The pragmatic facts are clear. Global travel has been cut off at the knees for what was a highly functional airline. It is quoted that it will take years to come back, while staff are made redundant, looking for new careers and horizons. A pragmatic character and reality must be injected immediately into NZ with comprehension of a changing world.
AirNZ as an example: Amazon needs fast and increasing access to fast distribution pathways into Australiasia. So offer to gut the seats out of a large percentage of AirNZ planes so that they can carry Amazon orders globally, as well as across Australiasia. Offer a lease or buy-outright option to Amazon with a rebranded airline (Amazon Air), but on terms that retain staff and servicing. i.e cash up and live another day when global flying returns. Thus have funds to buy back into the sector at a future date with new modern technologically advanced aircraft, so capturing the market once again with improved luxury and safety.
As the right questions and it will provide half the answers. How long does it take a board or a government to see the questionable trends in NZ large enterprise share prices? Below suggests 6-17 years. Something is clearly wrong and its pragamtism or an economy busy with keeping the status quo no matter what despite the obvious. That is human nature. A preference to stay with what is known and comfortable until its too late.
Seeking a forum to engender vision is a good start.
BB2B Digital Fintech Expo2B2B Digital Fintech ExpoB Digital Fin
https://www.bis.org/statistics/rpfx19.htm
https://www.business.com/articles/10-of-the-largest-ecommerce-markets-in-the-world-b/
https://digitaldirectorship.com/what-is-big-data/
Yes we are short of quality, timely information. How about a 'citizens dashboard' - real time data on the quality of living measures that matter most to Kiwis? In Scotland their Performance Framework tells Scots what the Government exists for, what its trying to achieve and gives transparent measurement against these goals - how about this approach for NZ?
Getting information into the public arena is key - politicians especially are conservative by nature, balancing a need to stay within fiscal, societal bounds, but tasked with "making the most" of our resources, whether they be natural, human or otherwise - almost a contradiction. If society moves towards innovation they will respond.