Trade War Backfire, Italy QE Hopes, Further EM Upheaval: Eco Day

(Bloomberg) -- Welcome to Monday, Asia. Here’s the latest news from Bloomberg Economics:

• The U.S. economy will be hit many times harder than the rest of the world by an escalating trade war, says the head of the world’s biggest shipping company
• Here’s why future designer handbags are less likely to bear a “made in China” label
• Italian Cabinet Undersecretary Giancarlo Giorgetti said he hopes the ECB’s quantitative easing program will be extended to help protect the country from financial speculators
• Emerging-market assets may be headed for more tumult as the volatility that gripped nations from Turkey to South Africa and Russia shows few signs of ebbing
• Pakistan’s Prime Minister Imran Khan asked overseas citizens to invest and increase remittances to help boost foreign-exchange reserves
• Venezuelan President Nicolas Maduro announced dramatic measures to rescue the country’s flailing economy, including a staggering 95 percent devaluation of the bolivar
• The Bank of England’s unanimous decision to raise interest rates this month has led economists to predict an additional two hikes next year

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke

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