China’s “peaceful rise” is sure as Hell over

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Back in 2005, my little magazine, The Diplomat, asked Peter Costello how Australia would reconcile China’s dictatorial government with our growing economic dependence. He replied it was not an issue because China’s liberalising economy would ultimately liberalise its political system.

I’m not sure if he believed it. It was convenient for everyone to believe at the time. Just as it was fed by Chinese propaganda that its rise was peaceful and beneficial to all.

Now that those illusions have passed like rain on the mountainside, it is time for the violent rise (or fall) of China. On multiple fronts.

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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.