Australia is set to adopt a tough new strategy to combat China after withstanding an ongoing campaign of 'economic coercion' over the past 18 months. Treasurer Josh Frydenberg, in a speech to the Australian National University's Crawford Leadership Forum on Monday, will outline what he calls the 'China-plus' strategy. It urges businesses to diversify into new markets and become less reliant on the country's largest trading partner. The strategic economic pivot away from the increasingly belligerent and authoritarian nation also urges Australian firms to find new supply chains outside of China. The once rosy bi-lateral relationship marked by Panda diplomacy…