The US prenteded to be Australia's ally and friend, China is just another country who happens to be a great customer and that should be recognised but that's about it.
I'd pivot away from the US and try and forge better and closer alliances (more like we have with NZ) with places, The EU, Canada, Japan for tradr and defence but theres no warm embrace with China.
As an Australian I've long been a Green voter and their policy has been arms length from the US (and China)
That the US treats us with disdain has been obvious for decades.
It's but one symptom of the dysfunctional way we live on the planet.
Civilization will collapse, at my most optimistic I'd hoped we would manage that collapse equitably as best we coild but in the 20 years I've been interested I've seen no evidence of that, so ... unplanned and violent it will be.