Without doubt, 04 September 2010 was bad. And the emotional, physical, community and economic recovery was always going to be a long haul.

But, 22 February 2011 makes it just, so, so much harder.

It is going to take years of effort, resources, people, communities and businesses working together to pull Christchurch and Canterbury out of the dust and ruins.

The belief that has guided me throughout my career as a professional economist is that economics is, first and foremost, about people. And people got hurt on 22 February. And that means our economy – and all the potential and opportunities that it can provide for us and our future generations – got hurt. Yes, it hurts; and it will continue to hurt. And not only will Christchurch and Canterbury hurt. New Zealand will hurt.

The region’s and nation’s people and community organisations are undoubtedly able and willing to meet the challenges head on. But, the damage to business, networks, confidence and people’s jobs and incomes cannot be healed quickly. And, unfortunately,the financial situation of NZ – including the business sector and the government – could not be said to be fighting fit to tackle this task.

But tackle it we must.

For New Zealand will be so much the poorer without the capacity, resources, skills and potential that remains in the Christchurch and Canterbury economy. New Zealand needs Christchurch and Canterbury. And Canterbury and Christchurch needs New Zealand.

In many ways the current situation calls for a very old-fashioned concept – that of nation-building. Where nation-building encompasses effort across many facets of life – institutions, relationships, physical structures, communities, societies, businesses, job opportunities and responsibilities.

Our forebears built this nation. Whether from Ngai Tahu in the south to Ngapuhi in the north, or on one of the four ships that sailed into Lyttelton, or on one of the many sailing or flying craft that have arrived on these shores, they have endowed us with this nation.

It is now in our hands to re-build a significant part of this nation. This should (and will) be the primary goal of economic activity over the coming years.

In the short term this will definitely divert resources (people and dollars) away from other industry and business. This will cause some of the conventional economic performance indicators to look sad. But the longer-term goal of restoring the Christchurch, Canterbury and New Zealand’s economic potential, capacity and opportunities must be paramount.

Christchurch and Canterbury: we stand with you. Kia kaha.