Key formula bucking trend - 'Wall Street Journal'

New Zealand is bucking an international trend by focusing on the market to deal with the recession, an article in The Wall Street Journal Asia says.

A journalist from the publication recently visited Wellington to talk to Prime Minister John Key about his approach to the international financial crisis.

Mr Key said he would not pretend New Zealand can stop problems caused by an international situation but would focus on transforming the economy.

The newspaper said his approach was at odds with many other governments who were pouring billions in taxpayer-funded stimulus packages.

"That idea - growing a nation out of recession by improving productivity - puts Mr Key and his conservative National Party at odds with Washington, Tokyo and Canberra."

Mr Key said the stimulus package response saddled future generations with debt.

"There is actually a limit to what governments can do."

The newspaper said Mr Key was returning New Zealand "to a formula for prosperity that's worked in the past".