This has nothing to do with the economy in the first place, but it is a good point to reduce dependencies.

Canada increased military cooperation with Australia in the Indo-Pacific already in 2024, the EU is seeking a new defence alliance with Australia. And so did South Korea, Japan, the Philippines, and a lot of others with shared values.

As an addition: Nato is not destroyed. Canada and the EU partners will have to rethink its cooperation, but this is what they have already been doing for some time. Australia is certainly one partner in this new global security architecture.

As a response to several of the posts in this thread: It is really amazing how many people here on Lemmy are downplaying or even denying China’s crimes (even many admins and mods). You can post articles critical of the US, EU, Australian or any other government, but if you post a China-critical text you are whatabouted to death. The tonality of many of these comments alone is very telling.