Biden’s Trillions, China Tensions, Black Homeownership: Eco Day

Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • The U.S. economic recovery from the pandemic collapse is starting off a lot hotter but could end up finishing much sooner than the 10-1/2-year record long upswing that preceded it
  • The Biden administration raised concern about some of the policy tools China is using to spur its economy
    • The U.S. spending plan faces a big problem: Beijing got to all the raw materials first
    • Canada needs to adopt a united front with its Five Eyes allies on China, according to one of Justin Trudeau’s top ministers who handled trade, foreign affairs and is now in charge of industry
  • Buying a home is the one of the primary ways that the average American accumulates wealth to pass down to their children. But it’s something White families have been able to capitalize on far more than Black families
  • The world economy is poised for the fastest expansion on record dating back to the 1960s, writes Bloomberg Economics’ Tom Orlik
  • Chile’s central bank chief said it will take the rest of the year for the economic recovery to take hold, a key condition that policy makers had previously set for a future interest rate increases
  • The world’s manufacturing heartland in east Asia is booming as global trade surges amid the recovery from the pandemic
  • Finally, the new season of the Stephanomics podcast kicks off with perspectives on the pandemic’s fallout from Bloomberg correspondents all over the world

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