China Engine Sputters, Greenspan on CPI, Japan Revival: Eco Day

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

  • China’s non-state companies, the economy’s traditional growth engines, have lost about $32 million a minute since June as markets sink
  • Prime Minister Theresa May has announced she’s wrested the backing of Cabinet for her Brexit deal
  • U.S. inflation showed little sign of breaking out in October despite strength in the economy and wages, likely keeping the Fed on its path of gradual interest-rate hikes. Former Chairman Alan Greenspan warned the tight labor market could lift inflation
  • While the world’s become accustomed to thinking of Japan’s economy as sickly, it’s heading into next year with a shot at racking up the longest expansion since the asset-price bubble ended in 1991
  • Oil’s slide into a bear market is more of a mixed blessing than great for America’s economy. Yelena Shulyatyeva says swings in energy prices could cloud the firming inflation outlook
  • The ECB’s quantitative-easing program has significantly weakened the euro, a study found. Meanwhile, the EU would retaliate against any U.S. decision to impose tariffs on car imports, its trade commissioner said
  • Indonesian presidential candidate Prabowo Subianto will slash corporate and personal income taxes if he comes to power, part of a plan to compete with low-tax neighbors like Singapore
  • The Philippines’ inflation-adjusted cost of borrowing remains below zero, the lowest among Southeast Asia’s larger economies
  • A potent combination of nervous buyers, cautious lenders and retreating investors has turned Australia’s once booming housing market to dust

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