Amongst other factors to consider when discussing N.Z. are these couple of points:
There is a Labor government in power at present that - akin to Hawke and Keating's rule in Oz - are having to sell the farm to support their arty, (literally, in Helen's case) socialist ideals;
The sell-offs of the companies cited as examples - BNZ, Tranz Rail, and Telecom - resulted in those companies achieving vastly increased net worth (BNZ $850 million > $5 billion; Tranz Rail 20 cents/share > $6/share).
Money and expertise was put into them that could NOT be found in little New Zealand.
With a population of only 3.25 million, N.Z's domestic financial resources are EXTREMELY limited. If this tiny country of 2 small islands wants to compete on a large scale with the "Big boys", it will need the capital, and quite simply has to accept the fact that that capital of those proportions is only available offshore.
For those who haven't yet visited the Shaky Isles (named as such because of the regular tremors experienced there, due to the location of the islands on a major fault line), give it a try. It's cheap, and the trip back in time is a refreshing experience.
