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My view is where Australia is going wrong with China and US politics is in our failure to move towards being an armed neutral nation. IMO taking the side of the US since they saved our bacon in WW2 doesn't seem to have worked in our favour (we keep going into US conflicts we shouldn't be in and now end up out of favour with China, all in the hope the US will save us if we are ever invaded(?)) And China appears no better, throwing their weight around internationally (for what reason I'm not sure, but global dominance appears the objective(?)).
This may be a simplistic view on my behalf, but IMO the coronavirus pandemic has provided Australia with an opportunity to reset our global political stance/priorities. The sudden higher unemployment and government now inclined to throw some money towards rebuilding our economy, could be an opportunity to build our defense capabilities and independence(?). And in doing so show some political guts in making it clear to other nations that we are transitioning towards becoming a more self-sufficient neutral nation.