Llewellyn-Smith was the founding publisher of
The Diplomat, an Australian international business and politics magazine, in 2000, and was its publisher and later Editor-in-Chief for eight years. The magazine published special issues "Global 100", "FDI 100" and "SMEGlobal100" in conjunction with Ibisworld. The magazine was sold in 2007 and it now operates online as an international relations website for the Asian region. In 2009, Llewellyn-Smith co-authored
The Great Crash of 2008 with Australian economist
Ross Garnaut. The book was published by
Melbourne University Press. The authors attribute the
2008 financial crisis to four factors: global imbalances; global housing bubbles, the emergence of "clever money" and increasing greed. Also in 2009, Llewellyn-Smith created "The Distillery", a five-day-per-week morning column in the
Business Spectator. The column critiqued business commentators in major newspapers and remains in circulation in 2014. In 2010, Llewellyn-Smith contributed to foundation of
MacroBusiness, an Australian economics and markets blog. And in 2012 he founded Macro Investor, an independent investment newsletter. Llewellyn-Smith's articles on economics and political economy have been published in
The Sydney Morning Herald,
The Age and the ABC's
The Drum. He is frequently quoted in news reports on economic topics. ==Criticism==