AUSTRALIANS HAVE felt lucky but anxious since the first colonists waded ashore, over two centuries ago. An edge of insecurity endured even as Australia became prosperous, safe and envied: a liberal democracy with a resource-rich continent to itself, guarded by a deep blue moat on the bottom of the world. Today, Australian fears are acute, for two pillars supporting its modern rise—its defence alliance with America and its trade with China—are wobbling. For all that, after a week Down Under talking to business, political and national security bigwigs, The Telegram has a hunch that Australian angst gives the country a head start.