Crypto News: Australia, US, Japan boost security ties

Good morning and welcome back, it's Ainsley here with all the news you need to start your working week.

Today's must-reads:
• Japanese troops to train in northern Australia
• China invites New Zealand PM to Beijing
• Albanese's green pitch to the world

Japanese troops will regularly deploy to train alongside US rotational forces in Australia's north starting from next year, the latest move by the three nations to strengthen their security ties in the face of growing strategic competition with China. The trio's defense heads met in Darwin on Sunday.

China's President Xi Jinping invited New Zealand Prime Minister Christopher Luxon to Beijing next year. Luxon said his first meeting with Xi, held during the APEC Summit in Peru on Friday, was "really productive and positive." He added that he raised New Zealand's concerns around China's recent test of an intercontinental ballistic missile in the Pacific.

Christopher Luxon during the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Lima, Peru, on Nov. 15. Photographer: Manuel Orbegozo/Bloomberg

Anthony Albanese is pitching for global investment into Australia's green energy and technology sectors ahead of Trump's return to the White House. There are "potential benefits" from a second Trump administration around climate policy "given Australia's position in the world and the resources that we have," the prime minister told reporters on the sidelines of the APEC summit in Peru.

Xi used his final meeting with Joe Biden to send a clear message to Trump: China wants to be friends, but is ready for a fight if necessary. But he followed that up by reiterating China's "four red lines," signaling that Trump must avoid any moves to undermine the Communist Party's power, push the nation toward democracy, contain its economic rise or encourage independence in Taiwan.

Joe Biden, left, shakes hands with Xi Jinping during the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Peru, on Nov. 16. Photographer: Leah Millis/AFP

Germany's Carl Benz might have invented the automobile, but it's the United States that got us to drive them, writes David Fickling in Bloomberg Opinion. Right now, America is passing that baton to China with barely a fight. The US car industry that emerges will be smaller, less influential — and, eventually, less profitable and financially sustainable.

The US is approaching a final decision to lift some restrictions on Ukraine's use of western-made weapons to strike limited military targets in Russia, according to people familiar with the matter. The discussions have been shaped by North Korea ramping up support for President Vladimir Putin's army and a decision would also follow an increase in Russian missile and drone attacks on its neighbor, the people said.

The contest to be Trump's Treasury secretary intensified. Scott Bessent talked to Elon Musk after the X owner voiced support for Cantor Fitzgerald's Howard Lutnick, people familiar said. The president-elect nominated oil fracking CEO Chris Wright as the energy secretary.

All times Sydney
• 5:30 p.m.: RBA's Kent gives a speech

Netflix's foray into live sports streaming with the boxing match between Mike Tyson and Jake Paul drew a massive global audience that peaked at 65 million viewers but resulted in thousands of complaints from viewers about connection problems and frozen screens. "We crashed the site," said Paul, 27, after claiming victory over the 58-year-old Tyson. "This is the biggest event."