China Plan Into 2030s, WTO Chaos, ECB Stimulus Surprise: Eco Day

(Bloomberg) -- Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• The first glimpse into China’s economic plans for the next five and 15 years will be unveiled when initial details are released on how the country will steer growth and develop industry
• The WTO’s effort to select a leader and chart a new course for the global trading system hit a roadblock after the Trump administration vetoed a bid by front-runner Ngozi Okonjo-Iweala. Meantime, EU negotiators agreed to reinforce the bloc’s trade-sanctions powers in response to the U.S. challenge to the global commercial order
• New coronavirus lockdowns by the euro zone’s biggest economies are boosting the chance of preemptive monetary stimulus by the ECB
• The Philippines has removed a major hurdle in advancing oil exploration with Beijing in the South China Sea
• House Speaker Nancy Pelosi said she hopes the current selloff in U.S. stocks will prompt President Donald Trump to agree to Democratic demands in stalled stimulus talks. Bloomberg Economics sees the rebound in U.S. GDP leaving a gaping hole in 2021 growth
• The U.S. faces “slow going” with no additional fiscal support likely for several months, said a former New York Fed chief William Dudley
• The slow deployment of pandemic relief funds in the Philippines is coming under scrutiny as delays risk impeding a recovery
• The Bank of Japan is seen standing pat, with investors likely to focus on any changes to the bank’s assessment of risks to the recovery
• Finance ministers and central bankers from the world’s largest economies plan to hold an extraordinary meeting Nov. 13 to discuss bolder action to help poor nations struggling to repay their debts
• Pro-democracy protests in Thailand are unlikely to derail the government’s plan to borrow about $74 billion this fiscal year
• Traders convinced a revival of U.S. price growth is at hand can now double down with a bet that will profit not only from rising inflation, but also from expectations for more

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