Virus Relief Bill, Brexit Deal Analyzed, China Ranking: Eco Day

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

  • President Donald Trump signed a bill containing $900 billion in pandemic relief, backing down from last-minute demands that risked a government shutdown
  • Britain averted the damage of a complete breakdown in formal trade ties with the European Union, but it’ll still confront the biggest reset of an advanced economy’s commercial relations since World War II. Meantime, here are the key terms of the Brexit deal analyzed and some major unresolved issues
  • Japan’s factory output was flat in November amid a resurgence of the virus. This is the latest sign pointing to slower GDP growth in 4Q, writes Bloomberg Economics’ Yuki Masujima
  • Also in Japan, its push to make itself a more attractive financial hub faces a taxing problem if it is to stop the drip-drip departure of finance professionals to other cities in Asia
  • The U.K. expects to sign a continuity agreement with Turkey on Tuesday to roll over tariff-free trade arrangements worth 18.6 billion pounds ($25 billion) last year
  • The Chinese economy is set to overtake the size of the U.S. economy faster than previously projected after weathering the coronavirus pandemic better than the West, according to the Centre for Economics and Business Research
  • Profits at Chinese industrial enterprises grew at a slower pace in November as producer prices continued to ease.

Source: Read Full Article