China Recovery Undercut, Australia Quandary, Biden Jobs: Eco Day

Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • China’s efforts to control the recent resurgence of Covid-19 are undercutting a recovery. Chang Shu echoes that view, noting PMI readings show the expansion lost speed more abruptly than expected
  • Australia only recently started its QE program, yet the key question already confronting the central bank is when and how to taper
  • President Joe Biden is about to get the first full look at the U.S. labor market he inherited
  • Vietnam’s Communist Party re-elected Nguyen Phu Trong to a rare third term, signaling no major shift in the nation’s economic program
  • India’s annual budget on Monday will be Narendra Modi’s chance to spur demand and investments in a badly battered economy
  • The U.K. will formally request to join an 11-member transpacific trading bloc, with negotiations expected to start later this year
  • Ten Republican senators proposed an alternative plan for Covid-19 stimulus. President Joe Biden faces an economic dilemma: keep his promise to deliver $2,000 payments, or target funds to the jobless and low-income earners
  • Germany’s economy minister says tax increases are the wrong way to pay for the Covid crisis and proposed selling state assets instead
  • The UAE plans to offer citizenship to some foreigners, the first Gulf Arab nation to try to give expatriates a bigger stake in the economy
  • Much has been made about the meanings of GameStop: How it reflects the profound inequalities festering in American society, a clarion call against Wall Street or an online populist movement

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