Key Economic News to Watch This Week: November 5
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Two of the world’s largest economies will witness a change in their political leadership this week: The US presidential election sees Democratic President Barack Obama standing for a second and final term, with recent opinion polls suggesting that Obama is leading by a small margin. In China, the fifth-generation leadership will be appointed at the 18th Party Congress.
Monday, November 5
G20 finance ministers and central bank governors meet in Mexico.
Two of the world’s largest economies will witness a change in their political leadership this week: The US presidential election sees Democratic President Barack Obama standing for a second and final term, with recent opinion polls suggesting that Obama is leading by a small margin. In China, the fifth-generation leadership will be appointed at the 18th Party Congress.
Monday, November 5
G20 finance ministers and central bank governors meet in Mexico.
A government-commissioned study of the French economy is published by industrialist Louis Gallois, the former chief of aerospace group EADS. Gallois will urge France to cut 30 billion euros in payroll taxes as well as higher consumption taxes in order to bring the French economy back to competitive levels. However, French media say President Francois Hollande is unwilling to let the country undergo “shock therapy”.
Related News: French Brewers Foaming Over 160 Percent Increase In Beer Tax
Related News: France Offers to Help Companies Pay For Bulk of Young Hires’ Salaries
Tuesday, November 6
The US presidential election sees Democratic President Barack Obama standing for a second and final term. Recent opinion polls suggest the race is neck-and-neck, with Obama leading by a small margin.
Related Story: Behind The Narrow Margins Of Victory In US Presidential Elections: George Friedman
Related Story: Obama vs. Romney – Does It Really Matter To The Economy?: Mohamed El-Erian
The three-day World Economic Forum begins today in Gurgaon, outside New Delhi. The meeting will convene key decision-makers to discuss initiatives aimed at building stronger consensus among business, civil society and government to accelerate efforts to promote state and national competitiveness, equitable growth, enhanced trade relations, and infrastructure and human capital development.
Wednesday, November 7
German Chancellor Angela Merkel addresses the European Parliament in a visit being seen in the context of contentious negotiations on the EU’s next financial framework, which are supposed to be concluded at a summit of national leaders on November 22-23. She later meets Prime Minister David Cameron in London.
Thursday, November 8
The 18th National Congress of the Communist party of China takes place in the Great Hall of the People in Beijing and will gather more than 2,200 delegates from across the country to discuss the party’s policies. The next generation of leaders will also be appointed at this gathering of party members. What happens during the Congress is a mystery. Apart from the opening and closing addresses, everything takes place behind closed doors.
Related Infographic: Red Money – China’s Wealthiest People, Companies & Cities
