Kōrero: International economic relations

The Chinese whiteware manufacturer Haier bought a 20% stake in New Zealand whiteware maker Fisher & Paykel in 2008. For Fisher and Paykel, which had increasingly internationalised its production and marketing, but faced financial difficulties with the world-wide economic downturn, it was an opportunity to gain entry into the rapidly expanding Chinese market. This Fisher & Paykel plant in Mosgiel, Dunedin, was closed in 2008.