Trucks wait in line as shipping containers stand in a terminal at the Yangshan Deep Water Port in Shanghai, China, on Friday, March 23, 2018. The trade conflict between China and the U.S. escalated, with Beijing announcing its first retaliation against metals levies hours after President Donald Trump outlined fresh tariffs on $50 billion of Chinese imports and pledged there’s more on the way. Photographer: Qilai Shen/Bloomberg

China-U.S. Battle Lines, Turkey Crisis, Korea's Exports: Eco Day

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

  • The Trump administration is portraying the Chinese economy as weak and its government as protectionist, while China argues the U.S. wants to turn it into an “economic vassal” and says Beijing will “fight to the end”
  • Turkey’s lira sank to a record low and bonds tumbled as heightened concern over a diplomatic spat with the U.S. overshadowed a central bank attempt to support the currency
  • South Korea plans to continue efforts to diversify its export markets as the U.S.-China trade war escalates
  • The deadly collapse of one of the dams dotted along the Mekong River -- a lifeline for people living on its banks stretching from China through Laos, Thailand, Cambodia and Vietnam -- has highlighted the rapid development of a waterway that’s increasing importance strategically
  • The Trump administration moved to restore some U.S. sanctions on Iran and reaffirmed plans for tougher penalties on the country’s oil sales
  • Indonesia’s gig economy is booming, but that’s not necessarily a good thing for a big chunk of the nation’s workforce
  • India is trying to improve its jobs statistics with surveys to estimate the value of unpaid work, especially household chores by women

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