China in our hands?

During today's Budget we may well hear upbeat assessments of UK trade with China, and the other BRIC countries. However, we export more to the Republic of Ireland than we do to China. Sure China is a 'global engine of growth' but it's slowing down, GDP target is the lowest for 8 years. Oil prices are rising. Inflation is a problem. House prices are falling. We can't bank on China saving us.

Also, have a look a the title and description of a forthcoming event being organised by the British Chamber of Commerce in China:

Is China closed for business?

Whether it's burdensome contributions to China’s Social Security System, or high registered capital requirements, are foreign firms being squeezed out of the China market? Is China becoming a less attractive investment destination because of onerous policy? Or are things simply not being put into context. After only thirty years of opening and reform should we instead be commending the progress China has made? Are foreign companies being overly critical - even hypocritical considering similar laws are under effect in their home countries?

Says it all. However much the Chancellor urges UK firms to do deals with China many find it a deeply difficult place to do business. So far the other problems I have heard about are: employee retention, nepotism, state subsidies to state run firms making it impossible to compete, legal problems and intellectual property theft.