No way Australia is getting off this lightly even after the Alaska meeting.
As I said in a previous post, China will send a signal to the word on how commited it is to its punishments.
Expect iron mines set up in Africa and other regions, and expect divestment of chinese imports from Australia to other countries. China should be commited to go until the very end and unless Australia "capitulates" (take a backseat to the Quad, allow foreign investments etc) China should close off any chinese money going to Australia coffers funding their submarines and offensive weaponry programmes.
China has long shown the world of its economic carrots, now its time for economic sticks. I am expecting major economic offensive moves to continue against Australia.
Good first step from Australia on the genocide vote though
The flip side is to encourage immigration since Austrailia is a small country by population and they can dilute the racist / racist votes over time.