Australia and America need to invest in downstream lithium...

Australia and America need to invest in downstream lithium refinery and battery production, like serious amounts of cash

They can and they will.

But right now things are imploding in China and there are serious conversations taking place between the highest officials including Janet Yellen and others and Chinese top levels about how to accommodate China, because they are desperate and they are dumping beyond cheap manufactured goods (including EVs) on the West. This is blowing up the economics of Western manufacturing.

This is such a complex situation and it's what they call 'fluid'. The ALP is the least of it IMO.
Tony's really big boat is probably going to launch.