If there were more Malcolm Frasers in Australia in the 1930s, he could have saved the country from the whole WWII bother.
But seriously, the irony is that Australia followed the US into two flawed wars in Iraq and Afghanistan. Now that Australia could quite seriously need the security support of the US, you have its ex-prime ministers urging the country to spurn it.
Don’t forget Paul Keating’s assertion that the US couldn’t win a land war in Asia, which conveniently excludes the one major uncontained land and sea war in the Pacific that the US participated in during the 20th century.
The truth about Australia and China was summed up by yet another prime minister, when John Howard counselled against Australians becoming mesmerised by China’s rise. Part of the issue of the Senkaku-Diaoyu tensions and South China Sea tensions arise from the fact that China, superpower to be or not, doesn’t enjoy the chain of command that a country like the US would. As stated here there is “dysfunctionality of decision-making in China” even in issues as crucial as border disputes. Imagine how China would function in an actual war.