Fed Recession Risk, Fealty to Xi, Trump Exemption Doubt: Eco Day

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

  • While investors are increasingly worried about the potential for a U.S. recession by 2020, central bankers are set to project the expansion lasting a few more years
  • As Chinese officials prepared a response to Trump’s latest tariffs, they spent hundreds of hours on another urgent task: showing fealty to Xi Jinping. Meantime, China is grappling with an inconvenient truth
  • This time around, the Trump administration hasn’t put a process in place for firms to get exemptions for the tariffs; here’s an in-depth look at the tough negotiator turning Trump’s trade bluster into reality
  • The U.S. says the new tariffs could generate an additional $4 billion in revenue so far. Meantime, China is planning to cut rates on imports from most of its trading partners
  • Singapore, grappling with an aging population and a shortage of high-tech workers, says it needs to bring in foreign talent
  • Asia’s economies can handle rising rates and a limited U.S.-China trade war, according to simulations run by researchers with the region’s $240 billion emergency cash buffer
  • Theresa May promised fresh plans to break the stalemate in Brexit negotiations after European leaders rejected her blueprint
  • The European Central Bank’s communication on how it will adapt policy beyond its first rate hike will become increasingly important moving into next year, Executive Board member Peter Praet said
  • Meantime, Norway’s central bank is keeping its eyes on the krone after raising rates for the first time in seven years
  • Here’s what happened this week in the world economy and what it means

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