China’s Recovery, Swiss Rejection, Biden’s Picks: Eco Day

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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • China’s economic rebound is gathering pace toward the end of the year, with an official gauge of manufacturing rising faster than expected in November
  • Swiss voters rejected two proposals that had the potential to alter the corporate landscape of a country known for low taxes and light-touch regulation
  • President-elect Joe Biden wants to reverse a decades-long trend of workers getting less of the economic pie. His best bet for achieving that could rest with a Republican: Fed Chairman Jerome Powell
  • Meantime, Biden is turning to longtime Democratic policy staffer Neera Tanden to lead his Office of Management and Budget and Cecilia Rouse to head the Council of Economic Advisers, people familiar with the process said
  • Turkey’s coronavirus-battered economy probably fared better than most peers in the third quarter, driven by a stimulus campaign that sacrificed the lira and price stability
  • The pandemic is set to widen the gulf between the richest and poorest parts of Russia as the government pushes the country’s far-flung regions to fend more for themselves
  • The extraordinary expansion in central banks’ balance sheets over the past decade poses a challenge to the independence of monetary policy, Bank of England Chief Economist Andy Haldane said
  • The BOE is seeing old fault lines open up as officials lock horns on whether to take interest rates below zero for the first time
  • With the U.K. economy suffering more from the coronavirus than most advanced nations, the stakes couldn’t be higher as Brexit trade negotiations enter their endgame

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