If the Brexit gains momentum and the UK becomes independent of the EU it will weaken the EU. If Trump does do the impossible and became POTUS, then as Mr Trump has differing views than the "Establishment", their relationship with China may take a hit or two with regard to import quotas and import taxes.
If Australia does go the way of a Republic and dumps it's ties with Old Blighty then we distance further from the EU and even France....meaning...we need to shore up our relationships with our closer neighbours not distance ourselves.
Yes we need the US as an ally, but we need China almost as much, as well as Japan, India, Indonesia, Malaysia to buy and sell product.
Bottom line, we are a part of Asia like it or not. China needs to feed it's ever increasing population, selling more of our land to them is not the answer for us. We need to foster relationships, even more joint ventures to ensure we have a say in future direction.
I applaud ScoMo for quashing the deal...it may be an issue for the banks now as to what to do with such a large tract of land that no one really has the money to purchase. maybe it will have to be broken up and sold in smaller parcels...