By Janine Perrett

Well this is embarrassing isn't it?

There is PM Turnbull landing in China today to head a 1000 strong business delegation for two days of kow-towing and fawning, just as the People's Republic of Communism shows nothing but contempt.

What else would you call this week's sudden tax changes to hit imported goods?

So I don't have much sympathy for the Australian companies who have exploited the China boom and now find their vast profits might be drying up thanks to protectionist measures by the ruling clique.

Lets not forget Crown Casinos is still suffering from restrictions which impact on its overly optimistic Macau casino.

There has been much attention on Blackmores, which saw its share price soar over $200 in recent months but fell 20 percent in the past two days.

Pardon me if I don't shed a tear even though Marcus Blackmore is one of the better billionaires in this country. (Or was. A billionaire I mean, still a good man).

I think vitamin companies in general are akin to snake oil salesman anyway, It's just that many leading scientists claim you are paying more for the bottle than the good most of these cures will do you.

As for baby formula companies like Bellamy's - well I don't want to see shortages of this key product in Australia so if this Chinese move leads to even more bulk buying at the supermarket shelves then Woolies and Coles will have to step up and actually enforce the limit rules.

No, I'm more fascinated by the fact that these tax changes announced this week are being called an import tax.

Didn't we just sign a much-hyped Free Trade Agreement with China?

Isn't that meant to ramp up our exports TO China, which would mean our imports INTO China?

Slapping on an "import" tax would not seem to be in the spirit of things now would it?

There is even talk in the papers this morning that China could turn back boats with Australian products aboard "as confusion reigns over China's crackdown on online sales".

Definitely not in the spirit of free trade. Or to put it bluntly, can you imagine the outcry from Beijing if we did that?

Oh, that's right, they do scream if we so much as look like protecting our national interest because we should be totally open to selling up to foreign capital.

But don't expect to hear any of this raised by the PM as he is raising his glass in a toast at the lavish banquet in China this week.

Even though it is reportedly the talk of the 1000 business reps there this week, don't expect much in the way of publicly calling their hosts to account.

Same applies to the sensitive issue of the Chinese dumping cheap steel into Australia at a time when Arrium and Whyalla are being wiped out.

Perhaps we should have put more effort into sending a message at the upcoming OECD meeting into the subject.

Instead, we get lots of stern talk from our politicians and no action.

 

Unless you are a Chinese leader when you get no talk and plenty of action. Often not good for the rest of us.