Dollar Pressure, China’s Addiction, Korea in Crosshairs: Eco Day

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

  • Janet Yellen once touted the benefits of a weaker greenback for exports, but as the incoming Treasury secretary, she faces pressure to return the U.S. to a “strong-dollar” policy
  • If you worry about all the waste generated by the annual rush of holiday shopping and gift giving, it’s nothing compared to the mountains of discarded packaging from a single event in China
  • Investors positioning for a post-pandemic recovery have South Korean sovereign bonds in their crosshairs
  • Sydney’s 5 million residents are being encouraged to forgo end-of-year celebrations and anything else that might fan a coronavirus outbreak that’s closed state borders. Meantime, Thailand reported a record number of new cases and locked down a seaside province
  • Malaysia will enter 2021 with its biggest spending plan yet to spur its virus-hit economy, but concerns are focusing on how to foot the bill
  • Another $900 billion of fiscal support would “absolutely” make a significant difference to the U.S. economy’s ability to endure Covid-19, but “challenging months” lie ahead, a top Fed official said
  • A compromise during pandemic relief talks over restrictions on the Fed doesn’t resolve differences on its emergency lending authority
  • Boris Johnson’s emergency lockdown is heaping last-minute pressure on negotiators as they race to reach a post-Brexit trade deal
  • Migrants are struggling over housing in China’s answer to Silicon Valley. Shenzhen is a beacon for young workers dreaming of becoming the next Jack Ma. Yet the boom has led to the highest property prices and lowest home ownership rates in China

©2020 Bloomberg L.P.

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