U.S. Election, China to Double Economy, U.K. Lockdown: Eco Day

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

• With counting in many states expected to continue late into the night -- and perhaps beyond -- Americans were poring over the latest vote totals Tuesday night. Here are the live updates on the U.S. election
• Chinese President Xi Jinping said the economy can double in size by 2035 and can reach high-income status in the next five years. He is expected to lay out plans for a more innovation-driven and self-reliant economy in a speech Wednesday
• Boris Johnson is set to push fresh coronavirus lockdown rules through the U.K. Parliament on Wednesday, facing down rebels in his own Conservative Party
• 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
• 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 Bloomberg’s Shawn Donnan
• Bank of Japan Governor Haruhiko Kuroda said he is closely watching the impact of the U.S. presidential election on financial markets, as some analysts warn that any sharp drop in investors’ risk appetite could cause the yen to appreciate
• The Indian economy staged an uneven recovery from the coronavirus collapse, with supply-side activity fluctuating above pre-virus levels, while the demand side remains notably below normal levels, Bloomberg Economics writes
• New Zealand’s jobless rate rose in the third quarter as companies were forced to fire workers in the aftermath of the Covid recession. That calls for monetary easing, according to Bloomberg Economics

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With assistance from Bloomberg