The new phase of the US-China cold war might have already come, regardless of politicians’ narratives. All three conditions/features of the Cold War have been met.
In the meantime, New Zealand’s attitude toward AUKUS shifted 180-degree compared to 6 months ago. Its High Commissioner to Australia, Annette King, publicly stated that New Zealand is willing to join the AUKUS. Japan may also join AUKUS at some point.
The CCP-Russian joint naval flotilla transited the Tsugaru Strait days ago and almost circled the Japanese archipelago. This was a very rare action that may have triggered Japan to seek a stronger alliance to protect itself.
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US-China New Cold War? CCP-Russian Warships Transited Japan’s Tsugaru Strait | Clear Perspective