The re-emergence of China as a superpower constitutes the biggest challenge the world has had for more than a century. Never before in modern times has the financial, trade, economic and diplomatic world pecking order been so profoundly reconstituted with the challenger country itself in the grips of incredible ideological and political change. This is a transition both internally in China and externally in the world beyond beset by hazard and risk. The world's peace and prosperity depends upon it being executed successfully.
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