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Big political shift in Argentina
Weekly investor research
23 October 2017
Odds of deeper market-friendly reform were given a major boost at the weekend after sweeping victories by the Cambiemos alliance across the whole of Argentina. The big take-away from President Xi Jinping’s address to the Chinese Communist Party’s National Congress is that China under his leadership will clearly continue to prioritise economic development over other policies. The relentless focus on the economy keeps China on track to achieve the status of absolute global economic hegemon within just a couple of decades. More corruption charges against President Michel Temer are defeated, opening a possible window for pension reform before year-end. President Zuma reshuffles his cabinet in a further bid to take the day at the approaching ANC party conference and Babis takes power in the Czech Republic. Global markets continue to focus mainly on the short-term momentum created by improving prospects of a US tax cut and the question of who becomes the next Fed Chairperson.