China’s Wary Bosses, Central Bank Warnings, India Slump: Eco Day

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

• China’s manufacturers are worried the U.S. under Joe Biden will remain hostile toward their nation
• Some of the world’s top central bankers have warned the global economy will still need support this year and next to weather the coronavirus crisis even if a successful vaccine is found
• India’s economy probably shrank for a second straight quarter, pushing it into an unprecedented recession. Meantime, sizzling vegetable prices that have kept inflation high are beginning to cool, allowing policy makers to keep interest rates lower for longer
• Before Covid-19 hit, New York City was home to many of the richest people in the world, an elite group of 30,000 families earning at least $1 million a year
• Alibaba Group Holding Ltd. posted sales of $75 billion during the world’s largest shopping binge, wrapping up an annual frenzy of Chinese consumption
• ECB chief Christine Lagarde said policy makers will focus on bond purchases and long-term loans for their next stimulus
• Africa’s largest economy will commit to a continent-wide free-trade pact that could become the world’s biggest market
• Choosing to earn a living from home once the pandemic ends is a privilege that you should pay for, according to strategists from Deutsche Bank AG’s research arm

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