But in an analysis for the Lowy Institute, Australia’s former ambassador to China Graham Fletcher noted several wildcards - such as Chinese military action in Taiwan - could still disrupt the “modest new normal” of the relationship. Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox. China is Australia’s largest trading partner and is the destination for about a third of the nation’s exports. Mr Fletcher said Beijing had not given up hope of drawing Australia closer into its orbit, while Canberra was more focused on consolidating its current relationship. “The gulf in terms of diverging world views and national security agendas is simply too wide.