The US China trade war is one of the stupidest acts in modern history. It will completely erode trust and trust is essential for business. China and Russia actually are not a threat to world peace. People may point out various acts by Russia but overall Russia isn’t the biggest threat. Especially for Australia. Australia needs good ties with China. As China’s economy slows so will Australia’s economy. The biggest threat to the US and Australia is probably a key ally. Sounds crazy but this ally has been occupied for decades and has only started rebuilding its military.
There also will definitely be no war with Iran or Venezuela because the US can’t afford it. If the US topples that will be the biggest threat to world peace by far. Old enemies will resurface with big plans for the Pacific. They will initially threaten the US and then Australia. It is only a matter of time the way the US is going. There is literally nothing that can change the US trajectory towards a civil war and collapse. People are waiting for things to right themselves but they not going to.
It isn’t to say that things are inevitable. Yet on a certain path they are inevitable. America is disuniting, falling away from its role as united. Yet it has to most extents over extended its power.