It's a fact I have a great disdain for Trump and his appropriation of the Republican party for his white nationalist agenda and I'm glad to see him booted out of office. Where Trump's agenda affects Australia is that the anglo world (US, Canada, NZ, UK and Australia) has secret (and not so secret) agreements to assist in critical national security concerns. Trump (Bannon and co.) has simply made China its national security concern for no other reasons that it fits his white nationalist agenda.
In effect, the argument goes that Russia is no longer communist (even if just as repressive and anti democratic) and Russia is a white nation so why continue to hold animosity towards them when our true enemy are communist China's yellow people. They are both easy to identify, their system is repressive and anti democratic, and they develop at such rapid pace that in just a few short years they could out compete the US in the economic realm, global political influence and possibly military sphere.
I agree that China has become a threat, but only from a political and military standpoint, from its threat of invading Taiwan and the expansion of its so called sphere of influence in the South China sea. These are true concerns that can quickly escalate into military but isolated conflict which would then impact other aspects of China's global outreach.
As it becomes more powerful, China is asserting itself in ways it's never done before. And its lack of diplomatic sophistication quickly leads to unnecessary threats, as in with Australia, when it could do well using the services of public relations spin doctors (Hill & Knowlton types) to get its point across, like we do in the West.
When I say that Biden will smooth things out, I mean that he will continue to put pressure on China to behave like the great power that it is, but he will refrain from involving our anglo partners like Trump did, giving them more leeway to resolve issues independently, like Australia and its export led economy or Canada's arrest of Huawei CEO's daughter. I think that Huawei or Tik Tok will no longer be national threats but more pressure will be put on the Uyghurs and on Hong Kong's situation.
As for Australia, I completely agree with "themickey" assessment. 22 million people sitting on a gold pile with little incentives to develop a true economy. Australia is and behaves like an island, where a few families control much of the economy and many have a living standard well above the US.