The Presidential Election tomorrow won’t just determine who sits in the White House. Outcomes in Congress could also have a major impact on fiscal stimulus at the same time coronavirus threatens to shut down the economy again. There’s a Federal Reserve meeting, as well, plus key employment data and more corporate earnings.
Hon Hai Precision Industry owns Foxconn, a company which assembles the majority of the world’s mobile phones in mainland China and is one of Apple’s most important manufacturers.
His Communist Party is currently tabling constitutional reform to extend term limits. If they succeed, his presidency could stretch beyond 2023, and this is important because one of his biggest initiatives is ‘Made in China 2025’. It aims to strengthen the hold of technology in China. A large part of the world’s electronic components and gadgets are assembled in China, because of their high technical skills and low labour costs.