Economic Arms Race, Fresh Japan Stimulus, Shorting Yuan: Eco Day

(Bloomberg) -- Happy Friday, Asia. Here’s the latest news from Bloomberg Economics:

  • China’s rise is posing a challenge to America’s role as global economic guardian
  • Fresh Japanese fiscal stimulus to cushion the economic blow from next year’s sales-tax increase could give a boost to flagging equities, according to Societe Generale
  • China’s currency is bound for a steady grind lower as its officials oversee an orderly depreciation to support a slowing economy, says a former Tudor Investment trader
  • The three Asian central banks leading the region’s tightening cycle have used a spell of relative calm to take a breather on raising interest rates -- but it’s not likely to last
  • A top ally of Indian Prime Minister Narendra Modi has come out in support of central bank Governor Urjit Patel in his current dispute with the government
  • Analysts will look to the October jobs report to confirm the September hiring lull was a fluke, argues Carl Riccadonna. Meanwhile, Fed Chairman Jerome Powell said reducing immigration could slow the economy by limiting jobs growth
  • Malaysian Prime Minister Mahathir Mohamad is already staring down a possible credit rating downgrade in his government’s first budget
  • Saudi Arabia has quietly revised its plan to overhaul its government and economy by 2020

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