Another important historical factor is the fact that this already very simple religion was further simplified and purified by the early philosophers of ancient China. Our first great philosopher was a founder of naturalism and our second great philosopher was an agnostic.
Of all the important relationships that Australia has with other countries none has been more greatly transformed over the last 10 years than our relationship with China.
Since the beginning of the 21st century thanks to the concerted efforts of both sides China-U.S. relationship has on the whole enjoyed steady growth. Since President Obama took office we have maintained close contact through exchange of visits meetings telephone conversations and letters.
Building a good stable and productive China-U.S. relationship is in our mutual interest of our two countries and our two peoples and also contributes to peace and development.
The U.S. - E.U. economic relationship dwarfs America's economic ties with China.
So China will be having to make some choices as to whose side it wants to be on. Hopefully this will be the beginning of a major improvement in our relationship with them if they choose correctly.
This week the world gathers in Beijing for the 2008 Olympic games. This is the extraordinary moment China has been dreaming of for 100 years. People have been longing for this moment because it symbolises a turning point in China's relationship with the outside world.
The Russians are turning east to the Chinese - to the Europeans' surprise. It always seemed to me that the relationship between Russia and China would shift from being based in Marx and Lenin to being based in oil and gas.
A durable long-term U.S.-China strategic relationship is even more important now than in previous decades. The relationship will continue to grow and prosper to the mutual benefit of all peoples.
I think the rise of China is one of the great events of all economic and human history and I think this will be overwhelmingly a positive thing for the region and the world.