Australia risks being caught up in a new cold war that will force it to suffer economic pain to preserve its security should conflict between China and the US become unavoidable, warn prominent historian Niall Ferguson and former Treasurer Peter Costello.
As the strategic and technological rivalry between the two sides intensifies over issues such as Huawei and the contested South China Sea, Australia really has only one choice, which is to back the US, they argue.
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Jacob Greber writes about politics, economics and business from Canberra. He has been a Washington correspondent and economics correspondent. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com
Michael Smith is the health editor for The Australian Financial Review. He is based in Sydney. Connect with Michael on Twitter. Email Michael at michael.smith@afr.com
