Bloomberg Daybreak: Europe Edition Trump Ends Canada Talks, China Pledges 'Self-Reliance', Nigel Farage's BOE Plan
Oct 24, 2025
Nigel Farage, Leader of Reform UK and a seasoned political strategist, shares his insights on the Bank of England’s leadership and potential political shifts in the UK. Meanwhile, Jenny Marsh, a Bloomberg journalist focused on China's economy, analyzes the country's urgent need for fiscal support amid ongoing trade tensions. They discuss China's five-year plan emphasizing tech self-reliance, and Farage hints at his party's strategies and the possibility of early elections. The conversation dives into the intersection of US-China relations and local political dynamics.
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Trump Seeks Quick Wins With Xi
- President Trump ended trade talks with Canada and aims for a quick meeting with Xi to secure limited wins.
- The US seeks progress on trade, Ukraine and nuclear arms rather than a sweeping deal.
China Needs Bold Fiscal Action
- Huang Yiping and other advisers urge aggressive fiscal easing to repair household and corporate balance sheets.
- China faces hidden damage from the trade war despite resilient headline export numbers.
Five-Year Plan Emphasises Self-Reliance
- China's new five-year plan doubles down on technological self-reliance and independence from the US.
- Beijing is prioritising domestic capabilities in science and tech amid escalating trade tensions.