At the moment the strategy in New Zealand is elimination, not flattening of the curve, and it looks we are winning in that sense.
The long-term plan is trickier, because obviously we cannot keep the country isolated from the rest of the World forever. But what we have gained is time: time to investigate this virus, to find a vaccine, to find its weaknesses, to find what is it about the young babies which makes them more resistant to it than the elderly, time for the virus to mutate into a less lethal form (as it happened with the Spanish flu, which did not just disappear, but turned into just "the flu").
I don't have the answers about tomorrow, but what I know is that, right now, there are about a thousand poeople in NZ who would be dead if we had not acted as we did. They will live a bit longer to hug their loved ones, to start a new hobby, to enjoy the view of the sea, and however long they live, they will do with the awareness that the whole country gladly sacrificed our freedom for them, because their lives matter, no matter how old or how immunocompromised.
Other countries can keep their economy.