China Trade War Win, Biden’s Trillions, Hot Planet GDP: Eco Day

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

  • President Donald Trump famously tweeted that “trade wars were good, and easy to win” as he began to impose tariffs on about $360 billion of imports from China. Turns out he was wrong on both counts
  • President-elect Joe Biden’s plan to pass a multitrillion-dollar stimulus package early in his administration faces challenges. Meantime, Wall Street strategists are going all-in on reflation bets that powered markets through last week’s U.S. political mayhem
  • Temperature’s rising: Bloomberg Economics forecasts GDP for a an increasingly hot planet
  • U.K. Prime Minister Boris Johnson set himself on a collision course with the Chinese government with a thinly veiled attack on traditional medicine, which he said was to blame for the pandemic
  • South Korea’s central bank meets this week with Governor Lee Ju-yeol flagging the fragility of an economic recovery
  • The U.S. rebound remains uneven, with a record number of Covid-19 infections further weighing on virus-sensitive industries
  • The EU is working on a proposal for the incoming Biden administration on a new trade relationship
  • A Bank of England interest-rate cut next month looks like an attractive outside bet to strategists at Goldman Sachs
  • House Democrats introduced a resolution to impeach President Donald Trump for a second time, setting up a vote unless Vice President Mike Pence uses his authority to remove the president

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