U.S.-China Fail, Aussie PM Crisis, Powell Revisits '98: Eco Day

(Bloomberg) -- Happy Friday, Asia. Here’s the latest news from Bloomberg Economics:

• Trade talks between the U.S. and China wrapped up Thursday with no major progress; for the global economy, there’s no traditional August lull as battles over protectionism heat up
• Prime Minister Malcolm Turnbull is waiting to learn his fate as a leadership crisis grips Australia. His problem isn’t new, as this chart shows -- on the upside, it’s bringing much needed currency depreciation
• Wind back the clock 20 years, and the U.S. economy looked a lot like it does today -- so does the title of a paper Fed chief Jerome Powell will deliver at Jackson Hole
• Meantime, two regional Fed chiefs said they favor further interest-rate increases and added that criticism by President Trump wouldn’t influence U.S. central bank policy
• As the economic landscape gets more rocky, Southeast Asia’s central bankers are turning to Facebook and YouTube for help in getting their messages across
• In New Zealand, the central bank chief isn’t ruling out cutting interest rates to achieve his inflation target
• India is seeking to boost the aspirational of handyman jobs as it tackles unemployment in the millions. Economic growth likely slowed in 1Q of the fiscal year, writes Abhishek Gupta
• The upheaval set off by the threat of American sanctions is roiling the Kremlin’s economic plans even before the U.S. announces a new round of penalties
• Venezuela’s currency chaos has gotten so bad that there’s now an app to lop off zeros
• Over in the U.K., higher credit card charges, slower service, more regulation -- and less sperm. The official picture of life after a “No Deal” Brexit isn’t pretty

©2018 Bloomberg L.P.