FT News Briefing China’s $1.4tn fiscal package fails to excite
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Nov 11, 2024 
Joe Lei, FT's China Bureau Chief, discusses China's recent $1.4 trillion fiscal stimulus, emphasizing its focus on local government debt instead of consumer support. Kira Nugent, FT's correspondent in Buenos Aires, highlights the legal challenges facing Argentina's new president, Javier Milei, and their implications for economic recovery. They delve into the ripple effects of the U.S. elections on global markets and Bitcoin's surge, revealing how political changes are shaping financial landscapes across continents.
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Renewable Energy Uncertainty
- Renewable energy developers are recalibrating after Trump's win, putting projects on hold and investors are dumping shares.
- They await clarity on the new administration's clean energy policies, given Trump's campaign promises to boost oil and gas and repeal climate policies.
China's Stimulus Disappoints
- China's $1.4 trillion stimulus package, while substantial, disappointed investors hoping for direct consumer relief.
- The package focuses on restructuring local government debt related to property investments, aiming to stabilize the property market and enable future spending.
Bitcoin Surges on Trump Win
- Bitcoin surged to $80,000 after Trump's election win, fueled by investor optimism about looser crypto regulations.
- Trump's campaign promise of a crypto-friendly environment raised hopes for increased institutional investment in the industry.