The presence of a large number of foreign intermediaries in Italy is highly positive considering the benefits they bring for Italian saving and their role in modernising the market. Accordingly, we have taken a favourable view of the entry of foreign intermediaries and the additional intensification of competition within Italy.
One of the most reliable relationships in recent economic history is that the world prices of the commodities New Zealand exports tend to rise when the economies of our trading partners are buoyant, and tend to fall when the economies of our trading partners are subdued.