Would you cheer for China?
No. I don't cheer for any centralised power looking to gain more power over others. How long until the US resembles China?
Debt is not all bad it allows USA to use it as leverage to dominate on the world stage even more.
Yes, my point exactly. This is not sustainable though and eventually leads to a massive amount of suffering across the world. I might be an idealist, but there are 8 billion people on earth, not five million. Yet, we have set up a world that empower five million at the cost of the 8 billion.
Over the past 20+ years investment in USA markets paid off handsomely, I don't see that changing, so investing of those retirement funds into USA by Australia might actually prove to be a good move.
Money doesn't equal wellbeing. In the past 20 years, look at the decline in the state of the world. More money for some, far more suffering for most.