You'll be asking the next generation, Gen Z, to make a fairly big reduction in their standard of living. Do you think they'll agree without a fight?
Not saying a more self-reliant Australia is a bad thing, just can't see how it can happen without a major global war or a fair bit of short to medium term pain.
Our politicians only care about the next 3 years. Long term thinking and strategy isn't what wind them elections.
The next generation might not have a choice about their standard of living if China's aggressive global domination plan isn't put into check. If China took over the Pacific ocean and restricted trade in and out of Australia, and The Donald decided it wasn't anything to do with him, what choice would Gen Z have? Join the CCP? They may just have to harden the f up for the common good right now while Australia finds a new major trading partner. We did it when Britain cut us off in the 1970s to join the EU, with a bit of creative thinking we can do it again.
I agree with you that the Australian democratic system is limited to 3 year cycles of planning in the main. By contrast, the CCP has installed itself in power without any operative political rivals to deal with internally, and so they are able to plan decades into the future towards global Chinese rule. Our narcissistic small minded politicians across all parties only think and plan until the next election, and if letting China do what it wants with our land and resources helps them do that, that's what they do, e.g. selling water to China in drought stricken areas:
Hopefully instead of a major global war, China's mishandling of Coronavirus and subsequent manoeuvring in the region can wake us the f up.