China Resurgent, World’s Fiscal Cliff, Europe’s Crisis: Eco Day

(Bloomberg) -- Welcome to Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

• China is the only large nation expected to grow this year, with booming export demand driving an industrial rebound and control of the Covid-19 outbreak allowing it to reopen the domestic economy
• The world’s major economies poured money into the fight against the coronavirus slump, and now they’re edging toward what may be a more complex policy choice: when and how to turn off the spigots
• The negotiations between Britain and the EU over their future relationship are lurching toward a crisis
• New Zealand Prime Minister Jacinda Ardern looks set for a resounding election victory on Saturday
• Applications for U.S. state unemployment benefits unexpectedly jumped last week to the highest since August and Americans increasingly moved to longer-term jobless aid
• Meantime, President Donald Trump said he was ready to boost his offer for spending in a fiscal-stimulus package, a bid that was quickly rejected by his Senate Majority Leader Mitch McConnell
• Global finance chiefs and central bankers pledged to maintain an “extraordinary and agile” policy response to the Covid pandemic
• Japan, the U.S. and Germany are likely to take the top slots in the new tech race that’s likely to drive the next round of productivity
• ECB officials see strong reasons to hold their nerve instead of rushing into expanding stimulus despite a sharp economic slowdown
• Australia’s cotton industry fears it may be the latest casualty of growing tensions between Canberra and Beijing
• Meanwhile, Thailand is in talks with China to establish a quarantine-free travel corridor by January to rescue its ailing tourism industry
• One of two candidates to lead the WTO said she wants the body to overcome its problems so that it can create a level playing field
• Tens of thousands of Chinese this week spent digital yuan across the southern tech hub of Shenzhen. The unprecedented experiment is catapulting the world’s No. 2 economy to the forefront of a race to develop virtual money

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