As the world digests U.S. election results, elections in other countries will soon commence.
French Presidential primaries begin November 20th and they will be followed closely for signs that far right candidate Marine Le Pen might win the general election in April, 2017. Le Pen opposes European Union membership for France and would advocate for abandoning the euro.
Next, Italy holds a referendum vote on December 4th on an overhaul of its legislative system aimed at speeding up the lawmaking process and eliminating bureaucracy.
Prime Minister Matteo Renzi has proclaimed he will resign if the vote fails (though recently downplayed that possibility). There is fear that if Renzi leaves, enthusiasm for turning around Italy’s troubled economy will falter (see this chart showing the spike in Italian bond rates, signaling growing concerns about the country).
In Asia, China will hold its twice a decade National Congress of the Communist Party in the fall of 2017. At this event, top leadership typically turns over, setting up the future direction of the country. Additionally, new items are added to the Party constitution.
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