Mounting global threats to the liberal democratic order, from the Middle East to the South China Sea, have necessitated a rapid strengthening of an alliance that a Labor prime minister might once have bristled at.
But Anthony Albanese in Washington on Monday (Tuesday AEDT) was effusive about two seemingly disparate agreements that will bring the two ANZUS allies closer together.
The investment by Microsoft of $5bn into Australia’s cybersecurity infrastructure, alongside a separate $2bn expansion of government investment into Australia’s critical minerals resources, may appear unrelated but they are born of the same urgency, from the same strategic imperative: to harness the strengths of our two vast, resource-rich nations.
If oil was the gold of the 20th century, lithium, cobalt and copper, of which Australia has plenty, will be its successors in the 21st, as the world rapidly seeks to shift from fossil fuels to renewable energy. These are strategic investments whose success will be measured as much in geopolitical terms as financial, over decades.
The AUKUS security pact has dominated discussion for two years but at least as important is the development of a seamless industrial base between our two nations beyond military hardware.
The challenge for Mr Albanese and especially President Joe Biden will be to chop away at the thicket of regulations and vested interests, in both nations, that impede this symbiotic enmeshment.
Concrete, believable agreements from this week’s meetings in Washington will empower Mr Albanese on his forthcoming visit to China to meet President Xi Jinping. China may be Australia’s export destination but the US is by far out biggest investment partner.
This month, The Australian reported how the US might require our defence technology framework to mirror theirs to ensure compliance with its strict export control regime.
The government has announced it will act to streamline our defence technology export regime to operationalise AUKUS.
We never asked for a front-row seat in world affairs but our immense resources have ensured it. With America’s vast investment capacity and Australian pragmatic ingenuity, we can ensure our prosperity and boost the likely success of liberal democracy.
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