We were caught flat footed in 1939 and nobody wants that to happen again.

That's why, in per capita terms, we are already the eighth largest spender on defence in the world.

Sadly, as is often the case when politicians embark on a spending spree, the PM and his advisers have over-egged their cake.

Look around. Where are the fascist legions rallying to the banners of latter-day Hitlers, Mussolinis and Tojos?

What Australian cities have been bombed or bombarded? What Australian territories have been invaded and occupied?

None. That's a pretty good sign we're not living through a 1942 redux.

Most competent historians would have no trouble in making a case for the Korean war era, the Cuban missile crisis, and Vietnam being significantly more fraught than what we are currently experiencing.

While it is true the world has a cold, it is also true coronavirus has evoked a generally well-co-ordinated, humanitarian focussed, and multi-national response.

There is no evidence, contrary to the line being pushed at ADFA on Wednesday, that COVID-19 has dangerously increased levels of instability around the globe.

It is actually reassuring that many of the shooting wars in progress when this began have been scaled back as combatants discover they have more pressing work to do closer to home.

Any government which wants to ramp up the defence budget, especially when things are as tight as they are right now, is under an obligation to tell people what the threats are and how the expenditure will help counter them.

Mr Morrison, with the greatest respect, fell short of doing that on Wednesday.

While the China word was carefully avoided, he made no attempt to dissuade friendly commentators on breakfast TV who identified Beijing as the obvious "clear and present danger".

Really? Does that stand up to any form of serious analysis?

While Chinese espionage and political interference has been well documented, and needs to be responded to, what evidence is there the Middle Kingdom has any interest in invading Australia or territories that we control?

In any case, we could never hope to outspend the Chinese in a regional arms race.

Indeed, by even suggesting we might be trying to, all we are doing is further undermining an already troubled relationship.

The one element of the announcement, which managed to recycle a lot of the spending initiatives already made public following the 2016 defence white paper, that did make sense was the pivot into our own backyard.

That is important. It also builds on previous policy announcements.

We do want a stable and pacific - in every sense of the word - regional environment.

What many are going to have trouble understanding is how spending $800 million on anti-ship missiles from a US weapons maker will contribute to this.

One of the reasons we have had to pivot back to the 'hood is Australia has slashed its soft-power investments, such as direct aid, educational and health infrastructure support, and commercial investment, in the region over the past decade.

This left the door open for Beijing to "cut our lunch".

Surely it would make sense to revitalise old friendships with once staunch allies rather than just spending up big to kit ourselves out as America's regional deputy.