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Terry Barnes advised Tony Abbott when he was a Cabinet minister in John Howard’s government.

It may have been missed in Britain midst the excitement of Boris Johnson’s reshuffle and the attention-greedy Sussexes making the cover of Time, but this week’s announcement by Boris Johnson, Joe Biden and Scott Morrison of a ‘trilateral security partnership’, to be known as AUKUS, is hugely significant.

It is to be a relationship of defence, technological and security cooperation. While it essentially formalises existing exchanges between three traditional allies, that in itself has historic strategic and geopolitical implications.

Here in Australia, this announcement is huge news. Not only is Australia formalising a security pact with her two greatest and closest traditional allies, but she is also being admitted by the US and UK into a very select club: countries operating nuclear-powered submarines. Morrison’s government is thereby walking away from a costly but irretrievably dysfunctional contract with the French to co-build a dozen conventional next-generation submarines, exposing itself to billions of dollars in termination costs.  But this hasn’t been a deal-breaker.

That AUKUS was announced, within eight months of the next Australian general election, is even more significant. It’s one thing for a conservative government to sign such a security agreement and pursue nuclear submarines. It’s quite another for a traditionally anti-nuclear and US-skeptical Labor party opposition to endorse such a radical reshaping of Australia’s national security framework. Yet it has – today publicly committed itself to the agreement should Labor win next year’s election, a possibility if opinion polls are right.

Furthermore, just weeks after marking its 70th anniversary, the joint announcement confirms that the ANZUS alliance of Australia, New Zealand and the United States is officially dead.

New Zealand suspended ANZUS almost 40 years ago, because it refused to allow US nuclear-powered ships into her ports: this week, Jacinda Ardern insisted that this bar would apply to nuclear-powered Australian submarines as well. Since New Zealand’s inflexible opposition to nuclear-powered ships sits with Ardern’s refusal to join any Five Eyes strategic arrangements that might antagonise China, AUKUS effectively kills off whatever vestiges of ANZUS are left.

Australia, on the other hand, has been increasingly vocal about the Chinese regime’s geostrategic muscle-flexing, as well as its internal behaviour. Morrison was the first world leader to demand that China account for the origin and escape of Covid-19 from Wuhan, and has given his MPs free rein to criticise China’s strategic ambitions and human rights record – despite the regime’s wolf warrior bullying diplomacy and trade retaliations. AUKUS reminds Xi Jinping that ‘little’ Australia has great and powerful friends, and that she does not stand alone in calling out his bullying.

Jinping certainly should sit up and take note of this critical new development. The two great Anglosphere powers are joining a third, Australia, in making it emphatically clear to China and the world that the Pacific and Indian oceans are not Chinese lakes. The UK and US giving Australia nuclear-powered submarine capability – with the speed, endurance and stealth that this capability ensures – means that there will be a local nuclear-powered, if not nuclear-armed deterrent straddling the approaches to busiest blue water sea-lanes in the world running through the South China Sea.

But from Britain’s perspective, this is a truly remarkable strategic development, the significance of which may not be immediately realised outside Whitehall.

AUKUS is not just sending HMS Queen Elizabeth through the Indian and Pacific Oceans to make an important but nevertheless symbolic freedom of navigation gesture to demonstrate Britain’s resistance to China’s increasingly bellicose aggression. For the first time in the half a century since she withdrew a standing presence from east of Suez, the United Kingdom is joining a formal geostrategic partnership in the Indo-Pacific.

That sends not only a starkly clear message to China: it reassures the entire Indo-Pacific region, and especially India, Japan, and South Korea – and Hong Kong and Taiwan – that their security interests are also British interests. Johnson, Ben Wallace and Liz Truss – fresh from negotiating, with Australia, Britain’s first post-Brexit free trade deal – have grasped the importance and necessity of the UK re-engaging in the Indo-Pacific strategically as well as economically.

And the United States benefits, too, in that strengthening the offensive as well as the defensive capability of a key regional ally in Australia will, in time, ease the burden of what Paul Kennedy years ago called ‘imperial overstretch’. Biden may have forgotten Morrison’s name in the leaders’ announcement hook-up, but surely realises how strategically important a politically stable, but strategically-strengthened, Australia will be to the overall peace and stability of the entire Indo-Pacific region.

To be sure, in Britain this announcement was overshadowed by other events. But in the longer term, AUKUS may well be part of any tangible and lasting legacy of Boris Johnson’s premiership.