I wasn't yet born in the 1970's, but I have read all about the enormous fear that the West had of Japan's economic growth at that time. It was a new "Yellow peril" for them, culminating in the Plaza accord (in which they forced Japan to massively appreciate their currency) which was the end of Japan's high growth story.
This intense fear/hatred led to multiple murders of anyone vaguely East Asian looking in America during that period (under the impression that they were attacking Japanese people, there were several Chinese/Korean victims too).
Now can you imagine them making such a huge fuss if Australia's economy was growing in the same way Japan's did? No more "yellow peril"?
No, because Australia is like them, a part of the Western world order.
They don't like Russia that's true, but they never considered Slavs to be a part of the West anyway.
Ironically they still cooperate with Russia in space, meanwhile:
Chinese exclusion policy of NASA - Wikipedia, the free encyclopedia
Notice there is no Russian exclusion policy, in fact America uses Russian rockets to get into space.
We will always be the "other" for them, the good news is that they will have plenty of time to get used to it in the future.