CPTPP

This column was first posted at https://www.newsroom.co.nz/.

Many consider Michael Reddell, the writer of the Croaking Cassandra blog, as an eccentric provocateur. Maybe. But he is also a good economist and his judgements should be reflected upon, especially in his area of expertise in macroeconomic and monetary policy, and financial regulatory matters.

Labour's willingness to back the new CPTPP owes a lot to the US president, but also shows the rise of the political realists in its ranks. But the hard part is yet to come 

It seems – perhaps, maybe – that Donald Trump has done us a favour. A new, stream-lined, more widely palatable and, well, more trade-focused pacific trade deal is about to be signed by the 11 remaining countries. 

While they're still getting used to being taken seriously and driven around in limos, we've already seen some fumbles and fair play by the new government

The early days of a new government are always a bit unreal. A new Prime Minister has a good advice stream from day one, with the support of a well organised department.