The two old rivals are in the same pool, alongside Wales and Japan.
Waldrom said Wales were a side with speed and a huge work-rate while Japan would gain an insight into the Kiwi camp, having former New Zealand assistant coach and player Damian Karauna at the helm.
However, Waldrom said Fiji could well be the team to beat at the tournament.
"Fiji has just been on fire the last few years," he said.
"They love being in Hong Kong, that's why they are the team that has won the most tournaments in Hong Kong.