Former Prime Minister John Key's advice to avoid a financial crisis

Former Prime Minister Sir John Key helped New Zealanders out of the last recession, and with the threat of another looming, Key has shared his tips for side-stepping the crisis.

However, Key told The Project he doesn't think another recession is on the horizon just yet.

"I don't think so, in the short term" he said on Monday.

"We're sort of near what an economist would call the end cycle, and the world is cutting interest rates so that tells you there's something out there," he continued.

However he says New Zealand's economy is still growing "probably at a rate of 2 percent."

He told The Project if he was still in power he would spend on infrastructure to negate the crisis.

"I remember chatting to you when the Global Financial Crisis hit way back in the day," said host Jeremy Corbett.

"And I asked what can we do as individuals, and you told me to go shopping!"

Key laughed but stood by his old point.

"It's not a bad strategy; [the Government] gets 15 percent of it now,"

"I think part of it is just feeling confident about what's going on and making sure we don't talk the place down," he said.

"You can't control an international trade war, and you can't control what's happening across the world."

Watch the full interview above.