China takes revenge on South Korean economy, Straya next?

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Read it and weep, Australia, from Peter Hartcher:

Counting on China to deliver endless growth and profits? Then you need to know about the news item last week announcing that a big international conglomerate was forced to sell one of its businesses in China.

The Lotte group in February offered the use of one of its golf courses to its home nation as a missile defence site. South Korea, trying to defend itself against North Korea’s illegal nuclear missile program, had decided to deploy a US system capable of shooting missiles down.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.