As part of its Defense Strategic Review, Australia has announced a significant reform of its defense spending, focused on long-range attack capabilities and domestic munitions production to counter perceived threats, notably those from China. 

Australia has announced a major overhaul of its defense strategy, shifting its focus to long-range strike capabilities and building munitions domestically in response to perceived threats, including an increasingly muscular China. The Defense Strategic Review recommends a strategy of greater self-sufficiency combined with stronger relationships with allies in the Indo-Pacific region, including Japan and India. The review’s priorities include developing a nuclear-powered submarine program, speeding up the acquisition of long-range strike missiles, and manufacturing munitions within Australia. However, the shuffling of priorities means funding for some programs will be cut, such as the purchase of Infantry Fighting Vehicles, which has been reduced from 450 to 129. The review also calls for greater agility in decision-making about defense projects. 

Source: https://amp.cnn.com/cnn/2023/04/23/australia/australia-defense-strategic-review-intl-hnk/index.html