The issue is not that China is a direct threat to Australia. China’s economic growth is of a huge benefit to Australia, the USA and the rest of the world. The Chinese can also buy as much farmland and mines as they want AFAIC because they can’t take them home with them, it invests more wealth into our national and we can always confiscate them if there is any security crisis. Also China is a long, long way from being able to challenge the USA and allies militarily.
The concern with China is a range of unresolved geostrategic issues around its periphery may lead to local and/or global wars. Any such war would be disastrous economically for China but because of the fundamentally dictatorship nature of her government can’t be ruled out. So the best security policy is deterrence of China from aggression and continued integration of China politically, socially and economically with the rest of the world.
The concern with China is a range of unresolved geostrategic issues around its periphery may lead to local and/or global wars. Any such war would be disastrous economically for China but because of the fundamentally dictatorship nature of her government can’t be ruled out. So the best security policy is deterrence of China from aggression and continued integration of China politically, socially and economically with the rest of the world.