Tensions with China escalate, after Foreign Minister Penny Wong issued a joint statement with her US and Japanese counterparts condemning Beijing’s military exercises around the Taiwan Strait and demanding they “immediately cease”. The Chinese Embassy pushed back, saying finger-pointing was absolutely unacceptable and accusing the US of being the biggest saboteur of peace in the region. Internationally, inflation and interest rates are biting. China’s economy is facing multiple challenges. At home our military structure, preparedness and investments are being reviewed for the first time in a decade. How can Australia prepare for what may be ahead? Pat Conroy, Minister for International Development and the Pacific; James Paterson, Liberal Senator for Victoria; Sharan Burrow, General Secretary, International Trade Union Confederation; Jennifer Hsu, Research Fellow, Public Opinion and Foreign Policy Program, Lowy Institute; Damien Cave, Australian Bureau Chief, The New York Times.