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China’s economy continues to recover from its contraction earlier this year, showing the economic benefits from swift control of the pandemic and a rapid resumption of manufacturing (THREAD) https://trib.al/6ligyss
Chinese factories are capitalizing on a global rush for medical equipment and work-from-home technology. That trend was underlined in the latest trade data. Inflation and credit reports for October due this week should also signal stable underlying demand https://www.bloomberg.com/news/articles/2020-11-07/chinese-exports-growth-accelerates-in-october-as-imports-rise
Still, China is effectively isolated from the rest of the world, with very few options to travel overseas and inbound travel banned or heavily restricted from an increasing number of countries https://www.bloomberg.com/graphics/2020-coronavirus-cases-world-map/
While that separation is for pandemic control measures, further signs that the global economy is becoming less integrated are emerging. China’s economic plans for the next 5 years set out a greater focus on the domestic economy https://www.bloomberg.com/news/articles/2020-11-06/xi-eyes-sub-5-growth-rate-in-new-vision-for-chinese-economy
Elsewhere in the world economy, central bankers in New Zealand, Egypt, Belarus, Peru and Mexico set rates https://trib.al/6ligyss
In the UK, data this week will give a snapshot of the economy in 3Q, as statisticians report growth and unemployment figures. With all parts of the country now in some form of lockdown, both are likely to paint a more rosy picture than the current reality https://trib.al/6ligyss
The ECB holds its annual forum: “Central banks in a shifting world.” President Christine Lagarde will give an opening speech on Wednesday, and will be joined by Fed Chair Jerome Powell and BOE chief Andrew Bailey for a policy panel on Thursday https://trib.al/6ligyss
In the U.S., the economic calendar includes the latest details on inflation, consumer confidence and job openings https://trib.al/6ligyss
Markets will also be watching developments in Turkey, where President Recep Tayyip Erdogan fired the country’s central bank governor on Saturday https://www.bloomberg.com/news/articles/2020-11-06/turkey-s-erdogan-removes-central-bank-governor-amid-lira-rout
Read @JDMayger’s full preview of what’s coming up in the world economy this week: https://trib.al/6ligyss
