2020 witnessed an accelerated right-wing polarization of Australian domestic politics and a fast increase on the power of its right-wing，racist and populist forces as a consequence of the country’s declining economy and America’s political rightwardization. The increasingly political rightwardization and populistization in the country indicate a slim possibility of the birth of any reforming force that is able to reverse this political trends in the near future. As a result，the Australian government was seen to retrogress in international cooperation for dealing with COVID-19 and global warming，and for advancing “free trade” and liberalization of investment. Australia ended its 28 year-long economic growth and suffered a marked economic contraction and unprecedented unemployment，which were partially due to its failure in COVID-19 control and its Cold War mentality of containing China by pursuing an economic semidisconnectedness. Australian economy has slowly moved out of recession since late 2020 thanks to the rising price of bulk commodities. Australian economic data are a testament to the magnitude of the Chinese market to Australian economic recovery and its long-term prosperity.