NZ is currently in pretty poor financial straits, however it has a great future. The nature of its mismanagement is similar to other countries, though its solution ought to be a little different. The principle problem in NZ is:
1. Low savings - The solution would be to make the 'economic surplus' discretionary is employers can reduce pay in tough times; whilst increasing savings by getting NZ'ers spending less. The amazing thing is that we are all worried about 'the levels of consumption' and greenhouse, yet a pure capitalist economy would resolve these issues, and create jobs at the same time. i.e. The 'mixed economy' is bad for the environment.
2. Low value work - By giving companies the discretion to lower wages, i.e. to offer surplus as a bonus, like in Japan, companies have an incentive to absorb the surplus labour which would about buoy wage levels, as well as attract new investment. NZ has to be competitive to overcome its disadvantages.
3. Inefficient and corrupt/extortionate market structures - There are two many extortionate market regimes in NZ. The worst is the building trade, where tradesmen are able to recoup the savings for materials purchased for the benefit of clients, then mark those products up to the client. They then work 3 days a week. The lack of competition in the building industry is part of the problem.
4. Extortion from government, i.e. Taxation is coercion. In this area, the NZ is no worse, and a little bit better than most governments. It has punitive fine policies, but not as aggressive as the USA or Australia. Local government has a strong welfare element.