Russia Ukraine war, page-65062

40 years ago Indonesia was our chief external threat

not by any serious thinkers it wasn't
military analysts were quite aware they weren't, aren't capable of invasion .

we supported the US over islamic terrorism which considering our depnednace on them for protection was a smart thing to do , paying our way so to speak
we make some sort of an effort to help Ulraine for the same reason, and because it's right to do so
US has been a dependable ally

yes we do need to diversify from China for our exports as a priority
at present they need us for the iron ore , easily the biggest money earner , may not last
making home made pig iron from hydrogen in situ in the Pilbara might help with that

and yes the debt inherited from the libs is ridiculously large , although by world standards most countries worse

All in all we could, really at this stage should , be in a better position but could be worse too .