The emergence of modern China is the economic and political phenomenon of this century. Australia has been a big beneficiary and it has been this decade that has mattered the most, with China racing to the top of the table as our leading trading partner. It is, however, a decade unlikely to be repeated as China heads towards economic maturity and more moderate rates of growth.

Australia’s strong economic relationship with China has been despite the decade beginning with a seriously low point in our political relationship, and this is now being repeated at the end of the decade.