Japan Trade Tile
The Bank of England is expecting that up to 75,000 jobs could be lost in financial services following Britain’s departure from the EU. 
Jerome Powell has been nominated the new Chair of the US Federal Reserve. President Trump headed to Asia on his fourth and longest international trip, visiting China, Japan, South Korea, Vietnam, and the Philippines. 
Upcoming: Catalonia’s lead separatist, Carles Puigdemont, agreed this week to a snap election in Catalonia and will return to Spain after being given promises of a fair judicial process. Brexit negotiations have been agreed to continue on November 9 and 10 for the next round. The Asia-Pacific Economic Cooperation leaders summit takes place in Vietnam, with President Trump’s speech expected to enunciate the US’s role in region. The next round of NAFTA negotiations takes place in Canada, November 17-21.

Asia Trip Seen as Opportunity to Articulate Policy

President Trump’s international trip to Asia is seen widely as an opportunity for the administration to enunciate its role in the region. With the level of US engagement in the region still in doubt since Trump’s inauguration in January, Asian leaders have been disconcerted at what appears to be US retrenchment. Typified by early moves to pull out of the Trans-Pacific Partnership, and a desire seemingly to only deal with Asian countries bilaterally, Trump’s regional policy is still under question. 

US apparent disengagement on the global level has been starkly countered by China’s. With President Xi solidifying power in China, his signature Belt Road Initiative has been a hallmark of his foreign policy – promoting broader development and integration of China with Asia and beyond. Craig Hart, a nonresident senior fellow in the Atlantic Council’s Global Energy Center, showcases President Xi’s Belt Road Initiative and world leadership on climate change as a potential way in which China may overtake Trump on the world stage. For more analysis on the issue, click here

Official Press Release: Remarks by President Trump and Prime Minister Abe of Japan, The White House 
Interview: U.S. Trade Representative Robert Lighthizer on Chinese Industrial Policies, Fox News
Opinion3 Central Questions As President Trump Visits Asia, Ely Ratner, Ashley Feng, NPR
Analysis: President Trump’s First Asia Visit: What’s At Stake For America’s Trade? Rick Helfenbein, Forbes 
Analysis: How China’s Economy Is Poised to Win the Future, Ian Bremmer, Time
Official Document: Made in China 2025, The State Council, The People’s Republic of China 
Official Document: Tax Cuts and Jobs Act, House Ways and Means Committee
EditorialThis is the Tax-cut Plan America Needs, Editorial Board, New York Post
Podcast: Trump’s Top Economist on Tax Reform and a Solution to Unemployment, Ben White, Politico 
Opinion: Tax Reform Cannot Wait, Must Not Fail, Thomas Donohue, US Chamber of Commerce 
Report: Investors Say NAFTA Withdrawal Would Hurt Stock Market and US Economy, Trade Leadership Coalition
Opinion: US Trade Representative “Surprised and Disappointed” Statement from Latest NAFTA Talks—Annotated and Explained, Chad Bown, Caroline Freund and Melina Kolb, Peterson Institute for International Economics
Opinion: The Agenda: Why NAFTA Needs an Expiration Clause, Todd Tucker, Politico 
News: US Consumer Confidence Just Hit it’s Highest Level in Almost 17 Years. Sho Chandra, Bloomberg Markets 
News: UK To Push for More Flexibility in Brexit Talks, Tom McTague, Politico 
Analysis: Can Liam Fox Match EU’s Current Trade Deals? James Blitz, Financial Times
Report: Will Brexit Raise the Cost of Living? The National Institute of Economic and Social Research
News: UK Cabinet to Discuss Preparations for a ‘No Deal Brexit, Annabelle Dickson, Politico
Opinion: Post-Brexit Financial Regulation Cannot be Left to Negotiators, Howard Davies, Financial Times
Analysis: Vietnam Navigates Change to Defuse APEC’s Internal Crisis, Que Anh Dang, German Institute of Global and Area Studies 
Analysis: The China Dashboard: Tracking China’s Economic Reform Program, The Asia Society Policy Institute and the Rhodium Group
Report: Global Trade Without Corruption: Fighting the Hidden TariffOECD 


Did you know… that China is the largest foreign holder of US Treasury bills, bonds, and notes? As of August 2017, China owned $1.2 trillion in Treasury’s. That’s 30 percent of the public debt held by foreign countries. The US debt to China is still lower than the record-high of $1.3 trillion held in November 2013.

Analysis: Globalization Marches on without the United States,  Shawn Donnan, Financial Times 
Video: Who is Winning the Geopolitics of Trade, Financial Times 
Opinion: A Basic Income for Everyone? Yes, Finland Shows it Can Really Work, Aditya Chakrabortty, The Guardian
Opinion: Why Machines Do Not Have to be the Enemy, Sarah O’Connor, Financial Times 
Report: The Age of Amazon and Alibaba is Just Beginning, The Economist
Analysis: US Government is Worst at Reducing Inequality of All High-Income OECD Countries, Jacob Kirkegaard and Melina Kolb, Peterson Institute for International Economics
Opinion: The Time is Right for a European Monetary Fund, Andre Sapir and Dirk Schoenmaker, Bruegel
News: Bitcoin Surges After World’s Biggest Exchange Announces Plans for Futures, Nick Baker and Matthew Leising, Bloomberg Technology
Report: State-Owned Enterprises in Emerging Europe: The Good, The Bad, and The Ugly, Uwe Bower, International Monetary Fund


Analysis: Europe’s Illusions, Zeit Online 
Opinion: Going Dutch: Why Germany Needs Others Besides France, Christel Zunneberg, European Council on Foreign Relations
OpinionChina’s Soft Power Comes with a Very Hard Edge, Financial Times 
Opinion: Direct Democracy Threatens the Way We Are Governed, Janan Ganesh, Financial Times
Report: Cryptocurrency Crackdowns Deny a Potential Source of Innovation, Darrell West and Jack Karsten, Brookings Institution
Blog Post: Bringing Transparency and Accountability to Online Political Ads, Karen Kornbluh, Council on Foreign Relations
Report: Creating Long-Term Value in Europe’s Capital Markets: Opportunities and Constraints, Cosmina Amariei, Centre for European Policy 
Opinion: America’s Tax-Cut Peronists, Simon Johnson, Project Syndicate
Opinion: Europe’s Economic Dilemma, Martin Feldstein, Project Syndicate

November 6: The Jobs Gap- Making Inclusive Growth Work in Africa, Atlantic Council 
November 8: Global Business Summit: The Future of International Trade, Southern New Hampshire University
November 9: WEBINAR: Selling Food into the European Union: What you Need to Know as a US Company, European American Chamber of Commerce
December 7: An Update on the Transatlantic Relationship with the European Union Ambassador to the United States, European American Chamber of Commerce

Your Newsletter Team:
Marie Kasperek, Associate Director, Global Business & Economics, Atlantic Council
Michael Farquharson, Intern, Global Business & Economics, Atlantic Council 
Jack Reynolds, Intern, Global Business & Economics, Atlantic Council 

Please send us suggested news stories, opinion pieces, publications, and upcoming events that you would like us to highlight! Email with your ideas and suggestions.

The views expressed in this newsletter and linked external articles and content do not necessarily reflect the opinions of the Atlantic Council, its staff, or its sponsors.

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