aging immigrants before 2015. The new immigrants provided human, capital and intellectual support for New Zealand's positive and stable development.
Of course, it could not ignore the negative effects brought by these policies, first of all, the government of New Zealand was through frequent adjustments of the monetary policy to deal with inflation, which did not fundamentally solve the problem of inflation, frequent short-term adjustment of monetary policy caused a lot of inconvenience and distress to corporate and individual investment. What’s more, New Zealand's proactive fiscal policy and the expansion of government expenditure have led to significant capital outlays in the infrastructure, leading to crowding-out effect and reduction in funds for high-tech industries and higher education. Finally, too much investment in the real estate industry has a marginal decline effect on the local economic development, while promoting the local real estate prices and inflation.
Recalling the New Zealand government's policy during this period of time, it can be improved from the following aspects. First, the high rate of inflation was due to the massive government investment in the infrastructure and real estate sectors. The government in the formulation of fiscal policy and budget should not only consider current needs, budgets and investment programs should also be prepared in accordance with the country's long-term development strategy. The funds allocated to infrastructure should be allocated to higher education and high-tech industries to help New Zealand enterprises to upgrade their technology to ensure the long-term competitiveness of New Zealand. Second, the development of New Zealand in the past is too dependent on dairy products, real estate, agriculture and other industries, when the development of these industries are limited, New Zealand's economy will suffer a great impact. In the future, New Zealand should adjust the domestic economic structure to achieve a comprehensive and balanced development of industry, agriculture and service industry, which can reduce the impact of the international economic changes on the New Zealand economy, Finally, during this period, New Zealand's economic fluctuations were mainly due to the world economic downturn, especially the impact of the reduction in China's demand. Thus, in the positive development of foreign trade relations with China, at the same time, foreign trade-oriented New Zealand can not ignore other huge potential markets such as India, Africa, etc., which can spread the economic risks caused by China's economic recession.
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