Graham Kennedy: International Finance Agreements Amendment Bill — Third ReadingText is incorporated into the Bound VolumeGraham Kennedy: International Finance Agreements Amendment Bill — Third Reading[Sitting date: 12 November 2015. Volume:710;Page:7985. Text is incorporated into the Bound Volume.]Dr KENNEDY GRAHAM (Green): Thisis just to confirm that the Green Party will be supporting this bill as was explained in the first and second readings. We support the general view of the Minister of Finance that the Asian Infrastructure Investment Bank represents an advance in the region and an advance in world affairs and that there are strong strategic reasons which I think both the Hon David Parker and David Shearer pointed out as well as did many of the esteemed National colleagues. There is a strong strategic reason for New Zealand to be involved in this and to support China’s initiative and to support the general promotion of poverty reduction and the spread of wealth in Asia and the Pacific.I think the only political party that is opposing this bill is New Zealand First. We always give respect to New Zealand First members when they produce reasons. We find from their argumentation three reasons that they have articulated to not support the bill. With respect we do not agree with them. The first reason in the second reading at least was that the NZ$145 million should be spent in New Zealand and not in Asia. Second was that the Chinese economy is not a completely open and free-market economy and that you need personal connections to get anything done successfully in the Chinese economy. And the third was that joining the bank would undermine New Zealand’s relationship and ties with the United States.We disagree with each of those reasons. We think the money should be spent in Asia; it is both in New Zealand’s interests and in Asia’s interests that that is the case. You probably have to have connections to do anything in any country in any economy including New Zealand. You just have to understand the culture properly. Thirdly undermining the relationship with the United States is a distorted view I think of the 21st century perception.I think the Green Party would take this moment to call on the United States and Japan to shed the 20th century perception of strategic rivalry and in fact get up to speed with the 21st century recognise China for what it is and what its potential is assist in the peaceful ascendancy of China and a general regional cooperation and harmony and get involved in the bank. We would encourage New Zealand First at this last moment to reflect on that and to actually change its vote to one in support.I do not want to take up further time of the House because the bill has been well canvassed in the previous readings but there is just one point that does need to be made and made strongly. That is the imbalance that this Government continues to show in terms of its perception of what economic sustainability is all about in the 21st century.It is not just about economic growth which is essentially—if you read the preamble to the articles of the agreement in schedule 8 of the bill and you listen to the peroration of National colleagues you tend to think it is still all about economic growth. It is not. It is about sustainability and the increasing quality of life and prosperity within the context of sustainability. If that fundamental principle is not well established both in the constitutional foundations of this bank and in the day-to-day operations of it then we are doomed.The New Zealand Government has done nothing to allay concerns in that respect when it provides NZ$145 million to the bank and—how much to the United Nations Green Climate Fund?It is NZ$4 million. That is $145 million for economic growth and $4 million for climate control. That is wrong. Run them together and it is NZ$150 million. Split them in two and it is $75 million to the Asian Infrastructure Investment Bank and $75 million to the United Nations Green Climate Fund. That would bring New Zealand up to a respectable level per capita with all the other contributors to the UN Green Climate Fund. They range from $60 to $8 per person from Norway down to Australia—and New Zealand is 60 cents. So given our priorities as we convey them to the world in this respect and in the context of full support for New Zealand to be a member of the Asian Infrastructure Investment Bank we call on the Government to reassess the actual financial quantum in terms of its contributions to the bank on the one hand and to the climate fund on the other. Thank you.