“Kiwi up on China baby talk”

That is one of today’s WSJ headlines, from Nicole Wong, here is the scoop:

“New Zealand exports milk products, which is what China needs and wants,” said Anders Faergemann, who helps manage $69.1 billion at PineBridge Investments and is buying the New Zealand dollar. Mr. Faergemann said that it is likely that a relaxation of China’s one-child policy will result in more demand for New Zealand’s products over time.

“If you can export more to a growing country the size of China, your currency is in a good spot,” he said.

The kiwi wasn’t the only asset to benefit from the policy change: In China, shares of baby-formula producers, piano makers and tutoring companies jumped following the news.

And that is what greater liberty looks like.