Central Banks’ Slow Shift, Fed Taper, China Cost Impact: Eco Day

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

  • Central banks are beginning to tip toe away from their emergency monetary settings as global policy makers mull the future of their massive bond-buying programs in a post-pandemic world
  • Reinforcing that, a key Fed official said it will be important to begin discussing in coming months plans to reduce the central bank’s massive bond purchases if the economy continues to power ahead
  • Chinese industry is absorbing significant cost pressures from rising commodity prices -- damping the inflationary impact for the rest of the world. But it’s close to breaking point, writes David Qu
  • The U.S. is entering a period of intense competition with China as the government running the world’s second-biggest economy becomes ever more tightly controlled by President Xi Jinping
  • India’s economic activity showed signs of beginning to cool as several states used lockdowns to control a severe Covid outbreak
  • Taiwan is being pushed to widen its fiscal support to help the economy cope with business shutdowns and possible job cuts
  • New Zealand’s trade dependence on China is deepening even as officials caution exporters about relying too much on one big market. Meantime, U.S. Trade Representative Katherine Tai is expected to hold her first discussions with her Chinese counterpart this week
  • A global agreement that could reshape the tax landscape for the biggest corporations is approaching a crucial first stage
  • The U.S. asked the WTO’s members to address the problem of forced labor on fishing vessels
  • Argentines see the inflation rate, already at 46% annually, speeding up further over the next year
  • Money is sloshing around Singapore like never before. As the coronavirus pandemic hammers Southeast Asia and political turmoil threatens Hong Kong, the city has become a safe harbor

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.