COMMENT:
One thing that seems to have been spelt out loud and clear at yesterday's China Business Summit in Auckland is that the People's Republic isn't an easy place to do business.
But with so many eggs in the one basket (around 30 billion of them in terms of annual two-way trade) we have little choice. Our prosperity is dependent on a healthy relationship even if on occasion we feel the heat of the dragon's breath.
The difficulty of doing business was probably best highlighted by Air New Zealand's chief executive Christopher Luxon who gave a good example of how uneven the playing field is for our national carrier.
They're forced to contend with what is an oxymoron, asymmetric competition, where there may be two competitors but they're totally uneven. Our airline's lost $100 million in the 13 years it's been flying to China, essentially because it's been competing in the Chinese market with government affiliated airlines in an environment stacked against this country.