In a move that will pose a serious threat to peace and security in the Asia-Pacific region, Australia has signed a cooperation deal with the United States and the United Kingdom on the transfer of US and UK nuclear material and know-how to the country, a key step toward equipping the Australian Navy with nuclear-powered submarines.

The latest deal — signed in Washington last week and tabled in the Australian parliament on Monday — is part of the so-called AUKUS partnership. The tripartite security mechanism, whose aim is to counter China in the region, will allow Australia to purchase up to five Virginia-class submarines at a cost of A$368 billion ($244 billion) over 30 years. The nuclear-powered vessels will be built in Australia and the UK with US technology and support.

China has always strongly opposed the deal, given that it undermines the international nuclear nonproliferation regime and poses a threat to regional peace and stability as it has the potential to exacerbate the arms race in the region and trigger military confrontation.

Foreign Ministry spokesman Lin Jian on Wednesday pointed in particular to the grave nuclear proliferation risks that are likely to be brought about by the program, as it involves the transfer of nuclear-powered submarine reactors and a large amount of weapons-grade highly enriched uranium from nuclear-weapon states to a non-nuclear-weapon state.

"Until the international community reaches consensus on safeguards and other issues, the US, the UK and Australia should not proceed with their nuclear-powered submarine cooperation," he said.

Even domestically, there has been increasing criticism targeting the AUKUS accord, which many in Australia believe ties the country's defense and foreign policy interests unwisely to Washington's geopolitical chariot.

"This government has sold out to the United States," former Australian prime minister Paul Keating said in a recent interview, as he described the AUKUS deal as being about "the military control of Australia" by the US. Keating has previously decried AUKUS as "the worst deal in all history".

That judgment could find proof in the details of the deal which reveal that Australia would compensate the US and the UK for any loss or injury caused by the transfer of sensitive technology and radioactive materials. Not to mention those associated with the disposal of high-level nuclear waste that will be generated by the submarines. Australia is responsible for the storage and disposal of any spent nuclear fuel and radioactive waste from the nuclear submarine program.

In addition, the US and/or the UK can pull out of the deal with just a year's notice if either nation decides the deal weakens their own nuclear submarine programs. "This is a A$368 billion gamble with taxpayers' money from the (Anthony) Albanese government," Greens senator David Shoebridge said following the tabling of the document on Monday.

Policymakers in Canberra should bear in mind that China is not and will not be a threat to Australia. It desires a peaceful neighborhood and is dedicated to peace, development, cooperation and mutual benefit in the region and beyond. As the world's largest engine of economic growth, China's trade and investment with Australia are essential to the latter's future development.

In the nuclear sphere, China follows a policy of "no first use" of nuclear weapons and a nuclear strategy that focuses on self-defense. In order to better safeguard its national security and fulfill its international non-proliferation obligations, China will start implementing export controls on antimony and some related materials from Sept 15.

Australia has nothing to gain but everything to lose by participating in the US-led strategy to counter China. It should reconsider the wisdom of its deep dive into the US' geostrategic game.