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New Zealand is crashing into a hard recession

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  • New Zealand is crashing into a hard recession
    Jacinda Ardern is paying the price for her hermit zero-Covid economy
    New Zealand is crashing into a hard recession

    Matthew Lynn 12 July 2022 • 6:00am

    Jacinda Ardern's zero-Covid lockdown saved lives, but now we are seeing the costs

    She was determined to protect the country’s health. She locked the doors to keep the virus at bay. And, although it might be tough for a while, the country and its economy would emerge in far stronger shape than most of its rivals.
    At the height of the Covid-19 pandemic, New Zealand's Prime Minister Jacinda Ardern was widely praised for her rational, science-based approach to the virus. She was dealing with it far better than anyone else, we were told again and again - and it was a model to be emulated.
    Now it turns out that the bill is falling due. New Zealand is crashing into a hard recession.
    Business confidence is plummeting. House prices are in freefall. And the central bank is raising interest rates at a faster pace than any other in the developed world...

    Ask Congress to Investigate COVID Origins and Government Response to Pandemic H.R. 834

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