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Countries that retain their monarchy more often have better track record in economic and political development then those which had overthrown theirs. Look at UK, Sweden, or Japan. While countries like Brazil suffered a setback from overthrow of their monarchy which they haven't really recovered from until today. Ditto France. The benefit of having a pet monarchy to be adored by the populace has been often underestimated.
Retaining monarchy would've done wonders to China in the long run, provided the right man is doing it(in fact, only the right man could have). Kang Youwei was maybe a xenophobic asshole, but that couldn't be helped back then, and he was the most level headed and experienced figure around to keep the fragile ship from splintering apart.
Even I wouldn't mind so much living under the reign of Queen Beatrix provided we're Australia independent. We'll be the wagging tail anyway.
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