China's New GDP Goal, RBA on Housing, $100 Billion Man: Eco Day

(Bloomberg) -- Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

  • Tom Orlik says China’s lower and more flexible GDP growth target range of 6-6.5% for 2019 is likely to reduce distortions. The new goal means the U.S. may stay the No. 1 economy for longer
  • Australian central bank chief Philip Lowe said the economy can handle the current property downturn even as slumping house prices start to impact consumer spending; he also said it’s hard to think of a scenario where interest rates rise this year
  • President Donald Trump, the self-proclaimed “Tariff Man”, is set to become the $100 billion man
  • Federal Reserve Bank of Boston President Eric Rosengren said it may take policy makers “several meetings” to determine whether risks to the U.S. economy will clear up or more seriously hamper growth in 2019. Meantime, a gauge of U.S. service industries rebounded by more than forecast
  • The U.S. says it wants a currency clause in any trade agreement with Japan. As the two sides prepare to sit down, Japanese officials say there is no need to talk about currencies

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