But then if they don't get approval, how many jobs are lost? And does NZ stop exporting milk powder that Chinese domestic producers could turn into formula? And what about other producers? I've read A2 has around ~5% market share overall in China, its only in CBEC etc that is has any meaningful market share of formula. I don't think it will lose its license, but I also think NZ has zero leverage if it did. A2 has this tail risk just like Bal. Eventually, why would China want to buy value added product from NZ, if it can pivot back to domestic and just buy the basic commoditity (powder) from NZ?
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