Let's start by getting the facts straight. China is not a hostile power. Never has been and hopefully never will be. It is our largest trading partner and we are substantially contributing to its economic and military development with our exports while it contributes to our wealth and provides a large proportion of our consumer goods.
Cross words have been spoken and we are currently not talking to each other but the trade goes on substantially unabated (aside from in a few selective areas). The Americans refer to their relationship with China as strategic competition. That has some merit, but we are not really even in strategic competition with China, except indirectly through our close relationship with the US.
The government likes to posture about China being a hostile power, but that is for internal consumption and not because they really believe it. If they really believed there was an actual risk of China threatening our security, they would not be cancelling submarine orders and replacing them an as yet imaginary fleet on the never never. Nor would they be agreeing to lease a Darwin port to China or passively accepting a deal that China has done with the Solomon Islands.
The gullibility of both journalists and the general public when bombarded with hysterical anti-China rhetoric (which happens every few decades) is the most disturbing part of this nonsense. As Paul Keating and Bob Carr have pointed out, it means that we never have a mature and rational discussion about foreign policy but simply run to mummy.
The joke on this occasion is that mummy (the LNP) is suffering a little wardrobe disarray that is showing rather more than she would like us to see.
Rather, they fully understand that China has more than enough on its hands maintaining domestic stability, integrating Hong Kong and finding a way to incorporate Taiwan without embarking on crazy adventures like invading Australia.