Is ANZUS worth the paper it is written on?

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ScoMo thinks so:

Scott Morrison has named the ANZUS Treaty with the US, which formalised the Australia-US alliance and was negotiated and signed by the Menzies government in 1951, as “the single most important achievement” of the Liberal Party in government.

In an exclusive interview to mark the party’s 75th annivers­ary, the Prime Minister said the essential contribution made by Liberal governments to Australia had been “safety, stability (and) prosperity”.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.