This so called "payback" by China is really quite overblown. Articles like this with the pretence of knowing someone who knows someone is complete rubbish. Sell your shares and leave if you believe it.
Does anyone really think that if China blocked ALL our exports we wouldnt find other markets over the next year or 2 (for most of what we sell to China) ?
In fact our Trade minister said words to the effect yesterday that maybe this is a good time for exporters to assess and measure their risks selling so much to China and perhaps looking to spread that risk. And Australia isnt the only one !
Lastly , do you think that China buys baby formula from Oz because its a cheaper and inferior product to other countries? That also goes to meat, minerals etc. There are plenty of other countries who would step in and buy our exports.
F..K China if they really are that stupid. Australia is a G20 nation, Europe is already making noises about standing firm against China , US doesnt give a damn .....
China has been very good at picking off smaller nations one at a time through carrot and stick, but this time they have a large number of countries appearing to no longer take their crap and preparing for life without China being such an important trading partner.
end of rant.
(20min delay)