If Australia is really bigger than the U.S., then why aren't they a world power? U.S. became a world power after WWI because of its size, industrialization and economy. Australia is big (in fe) and industrialized.
Also, if South America is quite a bit larger than the rest of the world, then why, when Spain colonized it, did they not become a huge world power, with the same reasoning? It should have had a hugely greater effect.
In fact, you can apply FET to any number of historic events. Somebody should rewrite history.