Distinguishing in part between cyclical and structural economic challenges facing China, (eg, real estate busts vis further urbanisation potential) Geoff Raby, AO, former Australian Ambassador to China, to APEC and WTO, is sceptical of arguments propounding ‘peak china’ economic growth.
Raby sees considerable potential for the realisation of China’s communist party led vision of scientific and technological transformation to the ‘fourth industrial revolution’. The party’s political leadership has already resulted in significant advances and outcomes towards this goal, notwithstanding ideologically based critiques of the current leadership under Xi Jinping for its authoritarianism and state control.
Raby also discusses concerns about growing moves globally to increased government interventions in trade and investment at the same time as there are emergent signs of a ‘new world order’.
Listen to the full interview here:
Geoff Raby: Ambassador to China, 2007-11; 2nd edn. of China’s Grand Strategy and Australia’s Future in the New Global Order was published in May 2025 and Great Game On, November 2024, both by Melbourne UP.
Michael Lester is a public policy economist with a career in Commonwealth and State agencies, World Bank and OECD. His interests include innovation, environment, and governance. He presents programs on community radio.