Australia is part of the Asia Pacific region. It's a predominantly white Western nation stuck in a region that has declining Western influence and with a fast growing Chinese superpower emerging. It's sheer paranoia on the part of Australia that China will engulf them once it is apparent the USA cannot counteract Chinese influence in the region.
Of course, China is highly interested in Australia's natural resources but they would rather obtain via trade and strengthening of economic ties with Australia but white Anglo-Saxon hubris of the majority of Australians won't want them to be drawn closer to China, at the expense of severing or diminishing their political ties with USA and the West. When China becomes strong enough, they will make Australia, and other Asian Pacific countries, like Japan, South Korea, Vietnam and Philipines, etc. decide whether they want to continue backing the old Western hegemonic order and allow US military bases in the region or accept China as the regional hegemon, and at the very least remain neutral or move over towards China's side on the strategic security aspect of Asian Pacific geopolitics.
In the next half century, China's power will eclipse anything that has ever been seen in history and when they achieve this, they won't accept their neighbours undermining their key interests in aspects such as access to natural resources, freedom of navigation and encirclement by hostile neighbouring nations. In the case of Australia, just the demographics dictate that they will always lean towards the camp of the West and with the mineral wealth and sheer amount of land and resources available in Australia, I can certainly see China eyeing Australia as a place to occupy, should they become unwilling partners in a China-led Asian order. Something for mouthy white Aussies to think about before they mouth off against Chinese looking people in Australia.
