Dalio Capital War, U.S. Role Reversal, Fed Outlook Dims: Eco Day

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

  • Billionaire investor Ray Dalio said conflict between the U.S. and China could expand into a “capital war” that would harm the dollar
  • The euro area economy is for once set for a sprightlier recovery from crisis than the U.S., thanks to starkly different responses to the coronavirus
  • For Fed officials, as for many others, it’s been a long six weeks
  • President Donald Trump has reset his approach to the coronavirus pandemic in a bid to revive sinking poll numbers, but with 100 days until the election his campaign may need more than a change in tone to reverse its slide
  • India’s central bank will soon have a new group of policy makers setting interest rates and possibly a change to its mandate too
  • Hong Kong’s economy may take longer than expected to recover due to the fluidity of the local virus situation and global economic uncertainties, Financial Secretary Paul Chan said
  • Bundesbank President Jens Weidmann challenged the landmark stimulus package, emphasizing the importance of controls for the funds that seek to pull the region’s economies out of recession
  • The U.S. economy is still set for a third-quarter recovery, and the impact of the virus surge in Sun Belt states on crimping growth will be limited, top Trump administration officials saids
  • At the start of the coronavirus outbreak, Philippine President Rodrigo Duterte said the disease would “die a natural death.” Five months later, the pandemic is raging, the economy is facing a deep contraction, and his political future could be at stake
  • Psychological fatigue with social distancing is emerging as a major challenge for curbing a pandemic now into its eight month. That’s especially so among young adults who are less fearful of the coronavirus, and suffer greater economic and social costs

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