the final push — as both main candidates in the us presidential race make their last pitch for support, the economy and inflation are at the forefront of voters�* minds. reviving china's economy — will beijing's top legislative body give the green light for a large fiscal stimulus? bracing for blackouts — the adani group threatens to completely cut off electricity supplies

for the most recent quarter. and the prosperity is turning up in american wallets. the average household income last year was over $80,000 — back to its pre—pandemic levels. this has empowered the us consumer to keep spending and drive economic growth. consumers have been not only resilient but defiant, in the face of higher rates. and that was before we saw all the effects of the initial cut in rates by the federal reserve, so the good news is consumers still have a lot of savings, and wealth. but even as inflation comes down, many consumers paying grocery and utility bills still feel the pinch. the pandemic—related run—up in prices has made american life costlier and loomed large over the presidential election. and voters heading to the polls

on tuesday are more likely to be thinking about their experiences with once—in—a—lifetime inflation. every week, we are going to work and getting a paycheque and seeing you still have to spend huge sums of money on gas to fill up your car to get to your office. that's another big negative downward pressure on the us consumer. donald trump and kamala harris have offered very different ideas about making life more affordable. the vice president has suggested price controls for groceries, while mr trump has promised drilling for more oil would lower energy costs and reduce inflation. in truth, economists have warned the policies of both candidates would increase prices. and even if voters aren't feeling it, whoever wins on tuesday seems set to inherit a remarkably strong economy. let's discuss this in more detail with kyle handley, associate professor of economics at the university of california san diego.

your thoughts there, the report outlining how strong the us economy is. many around the world, they will think it's an end situation from an economic point of view. we end situation from an economic point of view— point of view. we most certainly _ point of view. we most certainly do, _ point of view. we most certainly do, the - point of view. we most i certainly do, the economy point of view. we most - certainly do, the economy has been doing quite well by the metric economists like myself focus on. . ., , focus on. -- an enviable situation. _ focus on. -- an enviable situation. investment i focus on. -- an enviable situation. investment is| focus on. -- an enviable - situation. investment is high, eo - le situation. investment is high, peeple are — situation. investment is high, people are spending - situation. investment is high, people are spending money, | people are spending money, consumers are buying things. that is typically good and we would normally think that would be grateful an incumbent president, which to some degree kamala harris is. —— would be great for an incumbent president. but other things i want people's minds, inflation, interest rates and prices. —— other things are on people's

minds. they want things to go back to where they were, and thatis back to where they were, and that is helping donald trump's message and hurting kamala harris. . , , , harris. that is the issue, because _ harris. that is the issue, because although - harris. that is the issue, because although things| harris. that is the issue, - because although things have improved significantly, people don't feel better off yet, i guess. the feel—good factor is not there, is it? i guess. the feel-good factor is not there, is it?— not there, is it? ithink that's exactly - not there, is it? ithink that's exactly it. - not there, is it? ithink that's exactly it. they l not there, is it? i think- that's exactly it. they don't feel better off, because the things they are buying every single day are more expensive. it also goes to the housing market, where the rent is higher, housing prices are higher, housing prices are higher, interest rates to buy those homes are also very high. people i think our feeling like they can't get ahead, might be looking for a candidate promising some kind of radical change. to promising some kind of radical chance. ., . change. to what extent the eo - le change. to what extent the people across _ change. to what extent the people across the - change. to what extent the people across the us - change. to what extent the people across the us look i change. to what extent the | people across the us look at external event that has led to high inflation, and the fact that actually across the world people are grappling with

higher prices and the cost of living crisis? it's not necessarily about domestic policy on the part of the biden administration?— administration? that's a great question- _ administration? that's a great question- i — administration? that's a great question. i think— administration? that's a great question. i think the - administration? that's a great question. i think the answer i administration? that's a greati question. i think the answer is a lot of americans don't look outward too much to compare their situation to everyone else. they are essentiallyjust unhappy with how things are. and even if everyone else is doing a little bit worse, that doesn't make them feel much better. one thing i would point to as an example of this is any time gas prices get high, which is usually because the price of oil traded on world markets is going up, they want the president or congress or their elected officials to do something about it. in reality, there is often very little they can do in the short run, but they never stop asking and hoping that somehow the people in charge can fix these things. are you willing to say what you

think might happen this week? with the outcome of the election? i think it's very close. i think there's a lot of uncertainty and the candidates are very far apart. sol uncertainty and the candidates are very far apart. so i don't know what's going to happen with the outcome. i would compare it may be to the brexit referendum in 2016, where we didn't know what was going to happen, but it was going to be a big policy change one of the outcome was known. so i would expect to see big market movements in the financial markets over the next few weeks, as the events unfold. beyond that, it's hard to say. it's good to get your thoughts. meanwhile, the federal reserve is set to cut interest rates by another quarter point this week, just two days after the polls close. the central bank plans on sticking to its course despite the uncertainty over economic policy.

let's speak to justin urquhart—stewart, founder of the investment platform regionally ventures. it is interesting, actually, because the dollar has been weakening over the weekend, as different polar results come through. at one point, it showed unexpectedly, while harris had the lead in iowa. questions over the validity of that poll, but markets were already extremely jittery. that poll, but markets were already extremelyjittery. it’s already extremely 'ittery. it's far too close _ already extremely 'ittery. it's far too close to _ already extremelyjittery. it�*s far too close to call at the moment. but as you say, america is doing rather well but people don't feel it. will that make the fed adjust the rates? the answer is no. the economy is doing 0k at the moment, may be slowing down a bit, so it wouldn't surprise me if we get

another cut coming through. certainly that would be good news but coming too late for the election.— the election. for sure. basis oint the election. for sure. basis point cut— the election. for sure. basis point cut for _ the election. for sure. basis point cut for interest - the election. for sure. basis point cut for interest rates l the election. for sure. basis| point cut for interest rates in the us this week, more than likely. —— 25 basis point cut. 0ver likely. —— 25 basis point cut. over the next few weeks we could see quite a bit of volatility on the markets. we have both been around a long time and we remember previous presidential elections where sometimes you don't have a result of some time afterwards, after the polling stations have closed. your thoughts on how people ride this sort of time of volatility to come, of which there is bound to be some? markets hate the uncertainty. they would love a clear leader one way or the other. unfortunately, you are not going to get one. i suspect a certain candidate is going to argue about it anyway, and we all know who he is. the markets

are going to have uncertainty until it is clean and clear one way or the other. it's very close at the moment, and frankly, the markets have done very well, a lot of people... inaudible. i'm certainly not going to invest any more until i can see a clear result, and then move that way. i think that has had an effect around the world. people wandering in astonishment what the result of going to look like.— going to look like. thank you so much- _ let's head to china now, where the country's's where the country's standing committee of the national people's congress begins its four—day meeting today. china's once—thriving economy is now sluggish and there's speculation that this could be the moment the npc announces a fresh stimulus package. live now to betty wang, lead china economist, 0xford economics.

what do you think could be announced this week? i do think there will be _ announced this week? i do think there will be some _ announced this week? i do think there will be some details - there will be some details regarding the upcoming fiscal stimulus that will be announced, although we might have a full package of details later, and another window to look at is next month, when china's national people's congress meets to update its 2025 budget. so we might have some clues in terms of what the central government will do. we do think this is the time for chinese central government to step up and support growth. so we expect about up to y3 trillion of federal government spending. that will help to stimulate investment. could also be some money allocated to

refinance large state—owned commercial banks. ii refinance large state-owned commercial banks.— commercial banks. if that is what is announced, - commercial banks. if that is what is announced, how - commercial banks. if that is| what is announced, how will that boost the chinese economy and bring it out of a cross? it has been in low growth for quite a while now. —— out of a trough. quite a while now. -- out of a trou:h. , �* trough. exactly. and the si . nals trough. exactly. and the signals suggest - trough. exactly. and the signals suggest fiscal i trough. exactly. and the l signals suggest fiscal and monetary policy... inaudible. we did upgrade our 2025 gdp from 4.1% to ir.4% after the policy coordination was confirmed. in that case, fiscal stimulus could lift china's next year gdp by 0.3%. but it won't shift the structural weakness in the economy over the longer—term. in

weakness in the economy over the longer-term.— the longer-term. in terms of the longer-term. in terms of the challenges _ the longer-term. in terms of the challenges facing - the longer-term. in terms of the challenges facing china l the challenges facing china right now, i know central and local government is under so much pressure to raise revenues, because it has not been making the revenue from land sales. that has been a huge revenue source for local governments, hasn't it? that's a big problem currently.- a big problem currently. yes, that's right- _ a big problem currently. yes, that's right. specifically, i that's right. specifically, it's a big problem for local government, not central government. chinese central government. chinese central government has a different revenue structure and if you look at the past ten years, chinese central government has been doing quite well with a consistent fiscal surplus compared to indebted local governments. so central governments. so central government could manipulate the balance sheet to support growth. in terms of local government, as you said, they have been suffering contracting

because of the property downturn. that comes to another point the market is closely watching for, how to restructure local government debts. using local government financing vehicles. it could be a programme announced as soon as this week, or it might happen next month... that will help local governments to address debt.— help local governments to address debt. thank you so much. china's commerce minister has urged france to start taking an active role in helping reach a solution that benefits both european and chinese ev industries. in a meeting with his french counterpart, weng wentao also said the eu's anti—subsidy investigation has "seriously hindered" cooperation. this comes after the eu went ahead with tariffs of up to 35% on chinese—made evs last week.

boeing workers are set to vote later today on a new contract offer from the company that provides slightly bigger wage increases than an offer that was rejected last week. the aviation giant's latest offer would raise wages 38% overfour years, or a compounded increase of about 43%. about 33,000 boeing workers have been on strike for seven weeks, shutting down production of most boeing airline jets. around the world and across the uk. this is bbc news.

this is business today. adani group, the indian conglomerate owned by the billionaire gautam adani, has begun to cut electricity supplies to bangladesh and threatened to completely shut down power exports because of a payment dispute. bangladesh owes nearly

$800 million to adani for the power supply amidst the current political and economic turmoil. let's get more on this with our india business reporter archa na shukla. what's going on? well, if you look at bangladesh's - what's going on? well, if you i look at bangladesh's government power grid data, from october sist, power grid data, from october 31st, adani group has halved the exports of power to bangladesh from its 1600 megawatts coal—fired power plant in eastern india. reports say they have threatened that if the payment plan is not in place by the next few days, the company will cut complete supplies. adani's supplies account for 8—10% of the overall power demand in bangladesh. so any cut would definitely impact millions of bangladeshis who have a

consistent power supply in their homes. the dispute is over $800 million of payment due, which last month adani said had become unsustainable. 0fficials said had become unsustainable. officials in bangladesh say about $100 million of that payment has already been paid, and a conversation is already ongoing. remember, afterthe ongoing. remember, after the political turmoil where ongoing. remember, afterthe political turmoil where the sheikh hasina government was ousted, the country has been undergoing an economic turmoil, where the interim government is struggling to gather dollar revenues to pay for essential imports like electricity. in the recent past, there has been a conversation with the imf for an additional $3 billion worth of loans, but that is still an