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Here’s what you need to know
China’s fifth plenary session is underway. The Communist Party’s top leaders have gathered in Beijing to craft the country’s economic and political agenda for the next five years as well as a longer term 2035 “vision.” President Xi Jinping has endorsed a “dual circulation” model of developing domestic markets leading up to the meetings. Tencent announced a patriotic film featuring 100 Chinese celebrities to mark the occasion.
The US-China rivalry takes on trade and tabloids. The US filed an appeal at the World Trade Organization over China’s successful suit over Trump administration “trade war” tariffs. Meanwhile, China reciprocated to new US regulations on Chinese media companies by demanding that six US media groups report internal details to Beijing.
A high level US delegation arrived in India. Secretary of state Mike Pompeo and secretary of defense Mark Esper landed just in time to oversee the signing of a new pact granting India’s military access to US satellite data. A newly proposed air pollution law could make work easier for eyes in the sky.
The Ant Financial IPO keeps getting bigger. The Shanghai-Hong Kong dual listing is now projected to raise over $34 billion, valuing the Alibaba-backed financial technology firm at $312 billion—more than China’s largest bank. Shares are expected to begin trading on November 5.
Melbourne sees light at the end of the Covid tunnel. Australia’s second-largest city will have many of its pandemic restrictions dismantled over the next 24 hours after registering no new infections for the first time in 139 days. Speaking of second city openings, Pakistan’s first metro line just began operations in Lahore.
New currencies, old problems
Global equity markets fell sharply on Monday as much of the world continues to struggle with the novel coronavirus. One asset class that bucked the trend? Bitcoin. The cryptocurrency is up double digits over the last seven days after nearly doubling since the beginning of the year. Adding to the intrigue, the largest dollar value bitcoin transaction ever was completed on Monday, moving $1.1 billion for just $3.58 in fees.
Here’s what else we’re tracking in the world of digital money:
🇨🇳 China’s digital yuan is still in its infancy, but the virtual currency is already being faked.
🇳🇬 Bitcoin is powering the largest Nigerian protests in a generation.
Charting recession-proof jobs
During a recession, not all sectors are hit equally hard. Quartz data editor Dan Kopf looked at the two major US recessions of the 21st century to find out which industries are the most resilient.
Recessions, of course, are not the only risk that could lead to job losses. Workers hit hard by Covid-19 layoffs may be in for another blow: automation. Jobs that have been greatly impacted by Covid-19, and are at high risk of being lost to automation, include:
- 🚕 Taxi drivers
- 💁♀️ Restaurant servers
- 👷 Highway maintenance workers
- 🚌 School bus drivers
To see the likelihood that your job could be at risk due to automation, consult the full report.
Vibe check
How’s mental health at your company? Join us on Oct. 29 from 11am-12pm EDT for our free virtual workshop on how to support mental health at every level of your organization. In this workshop, experts will share advice on how to manage up, down, and around when it comes to wellness in the workplace. Grab your spot today.
The US-China tech divorce
To explore how the internet is splintering, we reported on hypothetical news events from five years in the future. These deductive dispatches help unpack the stakes of present-day battles between tech giants, politicians, and internet freedom fighters that are directly shaping our online future.
Our Oct. 25, 2025 report by a fictional Chinese newspaper, the Global Journal, imagines the potential outcome of the current fight over who should control TikTok in the US. For a glimpse into this heightened era of internet fragmentation, dive into our guide to the splinternet.
✦ Don’t let anything splinter you from all of Quartz’s content. Use code QZTWENTY for 20% off a year of field guides, premium emails, and more.
Surprising discoveries
Water for moon humans. Evidence of water molecules on our moon’s sunny side means more hope for extended Earthling stays.
Water for Mayans. The ancient civilization constructed its own water filters from quartz (!) and zeolite.
Gotta censor them all. The Pokémon Company changed the names of six of its catchable creatures to avoid stirring up trouble in China.
Rich people are just like us. A Laguna Beach feud between a billionaire investor and a tech entrepreneur involves a Chihuly sculpture and the Gilligan’s Island theme song.
Never go McFlurry-less again. An app called McBroken tracks which McDonald’s locations have broken ice cream machines.
Our best wishes for a productive day. Please send any news, comments, soft-serves, and unchanged Pokémon cards to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Today’s Daily Brief was brought to you by Susan Howson, Jackie Bischof, Amanda Shendruk, and Max Lockie.