KEYS ECONOMIC APPROACH BEING WATCHED IN OZ

John Key and Rudd appear to get on pretty well - there is an air of the sophisticated geek about both of them. However their differences in style and approach to the global financial downturn are significant.

The Australian takes a look a the differences here

We particularly like this bit - Key makes it clear that the government cant provide all the solutions.

New Zealand benefited from "huge reforms, leaving it as a small, open, flexible economy, driven by Roger Douglas" -- the Labour finance minister in the late 1980s, recently returned to parliament as an ACT Party MP -- "but I am not claiming to be another Roger Douglas".

He said: "We just don't need that level of reforms, because the economy is quite open. But we can free up the process" of reform, which had stagnated. This will include a greater involvement by the private sector, as in a jobs summit Key held recently.

He is reintroducing greater flexibility to the labour markets, he said -- for instance, through a proposal for a 90-day probationary period for new employees.

"And we're not afraid to use the private sector in the provision of health and education services. The success of the nation doesn't rise or fall on the efforts of government alone. The strength of our country is that of our 4.3million people."

Yip we agree - All for one and one for all.