EU-China Investment, $2,000 Checks, 2021 Outlook: Eco Day

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

  • European Union governments signaled support on Monday for completing work on a long-sought agreement with China to open the Chinese market further to EU investors
  • The U.S. House of Representatives passed a bill Monday replacing the $600 stimulus checks in the newly enacted virus relief bill with $2,000 payments, as Democrats and moderate Republicans supported a proposal backed by President Donald Trump
  • The trade deal that both sides of the English Channel say reflects a new era of cooperation is essentially a sideshow for the City of London, with the financial center still awaiting its own seal of approval from the European Union. These are the key questions left unanswered
  • A rush to escape the city is pushing rents in London and the rest of England in opposite directions at the fastest pace in at least five years
  • Smaller Chinese companies and those in the retail industry are struggling to access credit amid a weak recovery in consumer spending, according to China Beige Book International
  • Here’s Bloomberg Economics’ 2021 outlook for the global economy
  • The U.K. auto industry dodged disaster when British and European Union negotiators sealed a post-Brexit trade accord, but not before carmakers announced factory closures and called off plans to make several new vehicles in the country
  • Gold sales in Thailand are surging as households reach for a financial lifeline amid the pandemic, a tactic that risks complicating government efforts to tame an export-stifling rally in the nation’s currency
  • Indonesia’s president plans to raise the target for the country’s new wealth fund to as much as $100 billion in funding next year, according to people familiar with the matter

©2020 Bloomberg L.P.

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