“…Large parts of New Zealand’s economy have settled into monopolies and duopolies, often foreign-owned.
Our small population and a trend over the past three decades of deregulation towards consolidation and economies of scale has put a series of industries into the hands of a few dominant players.
New Zealand now has two major newspaper groups, two major radio networks and three television operations.
In supermarkets we have two major chains and in malls Westfield is the dominant player.
Some argue that this is one reason why consumers lack choice and that prices are higher than they are in more competitive markets such as Australia, Britain and the United States.
Some also argue this lack of competition and price inflation in our so-called non-tradeable sectors of finance, retailing, media, health and education has been a factor in the unbalancing of our economy away from exporting and production towards consumption and importing over the past decade.
So it’s great to see a new enterprise shaking up two of these sectors -
- and lowering entry barriers for smaller manufacturers and retailers…”
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