Challenging situation, page-2

Our own AUD is heading towards the 60cs as well, and has devalued by more than 30% to most major currencies including the rmb in the past 2 years, more than enough to cover any devaluation by the Chinese central bank.

Moreover, people who buy premium Australian import food regularly in China are the top 5-10% of the population, they insist on import food not because its cheap, but because its far safer and higher quality than the domestic alternatives, which have been plagued with dangerous additives, poor quality control, fraudulent labeling etc, so their demand for these foodstuffs is somewhat inflexible to the cost.