All eyes are on the Fed and US economic data but the more-important pivot in the global economy will be when China abandons its covid-zero policy.
The People's Congress begins on October 16 in what will be a watershed event for the next decade. In all likelihood, it will enshrine Xi Jinping as leader for life, skirting the two-term rules.
Many China-watchers believe that once he's consolidated power, he will look to loosen rules are covid. There are signs already as officials didn't wear masks at a recent high profile meeting. The Beijing marathon also returned to the calendar after a two-year abscence and runners won't be required to wear masks.
Even the smallest signals and signs from the People's Congress could mark fundamental changes in the global economy, particularly with Russia's future so uncertain.
So while the immediate focus will be on how China handles covid and the failing real estate market, it's an event that demands extremely close attention.