China to Double, Unexpected Trump Lesson, RBA Fine-Tune: Eco Day

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

  • Chinese President Xi Jinping said the economy can double in size by 2035 and can reach high-income status in the next five years
  • The past four years could turn out to have been a very loud civic lesson in the misguided economics of protectionism and the costs of tariffs and economic nationalism, writes Shawn Donnan
  • Australia’s central bank is likely to have to fine-tune its new QE-led stimulus program, writes James McIntyre
  • President Donald Trump and Democratic nominee Joe Biden both projected confidence on Tuesday, touting long lines at some polling stations as signs they were poised for an Election Day victory
  • What started as a political spat between Beijing and Canberra has become a one-sided trade war that threatens serious disruption for an expanding number of Australian exporters
  • New Zealand’s jobless rate rose in the third quarter as companies were forced to fire workers in the aftermath of the Covid recession
  • U.K. Home Secretary Priti Patel raised the terrorist threat level to “severe,” meaning an attack is “highly likely.” Meantime, Austrian Chancellor Sebastian Kurz was thrust into the forefront of Europe’s battle with radical Islam after a gunman went on a rampage

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.