Central Bank Warnings, RCEP At Last, U.S.-China Ties: Eco Day

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

• Central banks aren’t getting wrapped up in excitement over a Covid vaccine -- instead they’re warning of more economic pain to come
• Brexit talks are going down to the wire, with the EU’s chief negotiator threatening British access to the continent’s single energy market to extract concessions on fishing rights. Meanwhile, the U.K. government is intensifying talks with industry as it seeks to avert year-end Brexit disruption
• Just eight months after they swung into action to avert a crippling depression and credit crunch, central banks are in the uncomfortable position of relying on governments to power fragile economic rebounds
• Serbia, the country with Europe’s most optimistic economic outlook amid the pandemic, will probably keep interest rates on hold Thursday despite a spike in new Covid cases
• Fifteen Asia-Pacific nations are set to sign the world’s biggest free-trade agreement Sunday
• Bloomberg Economics takes a look at how President-elect Joe Biden could reshape U.S.-China ties. In the economists’ guide to 2050, China is seen as having won the Cold War
• China’s factory chiefs are wary of the U.S. market even after the Biden victory
• After more than two years of confrontation, Turkish President Recep Tayyip Erdogan signaled a cease-fire with international investors, pledging to support his new economic managers with market-friendly policies
• Noodle bars in Tokyo are closing rather than raise prices amid the pandemic downturn
• Africa’s largest economy will commit to a continent-wide free-trade pact that could become the world’s biggest market
• For decades, Asia’s fast-growing economies have offered millions of young people the chance to do better than their parents. Thanks to Covid-19, that tradition may soon end as youth unemployment soars

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