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Word Count: 901
The United States and New Zealand established close ties in 1942 when the US provided security for New Zealand during World War II and have remained close ever since However in 1984 the Labour party came into power in New Zealand with intentions to bar nuclear-armed and nuclear-powered warships from New Zealand ports Implementation of this anti-nuclear policy was incompatible with US policy and disrupted the alliance under the Australian New Zealand and United States ANZUS security treaty of 1951 After unsuccessful attempts to remedy the issue the United States suspended its ANZUS security obligation to New Zealand in 1986 Despite the rupture in the ANZUS alliance New Zealand has maintained close political economical and social ties with the United States In trade the US is New Zealand second-largest supplier and customer after Australia Trade between the two countries totaled 35 billion with a 300 million surplus in the favor of the US in 1996 US merchandise exports were 19 billion US foreign investment in New Zealand that same year totaled 48 billion and was largely concentrated in manufacturing forestry telecommunications services and finance The two countries have also worked closely together to promote free trade in the World Trade Organization and the Asia-Pacific Economic Cooperation forum The Labour party had not only changed nuclear policies in 1984 but also introduced a monetarist economic policy in a major effort to reduce the government budget deficit and inflation that resulted largely from an attempt in the 1970s to diversify New Zealands production This new plan was executed through seven major alterations 1The increase of privatizations through the sale of government-owned enterprises 2Elimination of Government subsidies 3Liberalization of import regulations 4Exchange rates freely floated 5Removal of controls on interest rates wages and prices 6Reduction of marginal rates of taxation 7Cutbacks on health education and social security benefits This Laissez-Faire attitude did indeed decrease
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