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Germany's Trouble, China Revamps Rates, Japan Exports: Eco Day

Germany's Trouble, China Revamps Rates, Japan Exports: Eco Day

(Bloomberg) --

Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your week started:

  • Here’s everything you need to know about what’s happening in the world economy this week
  • Germany’s economy is in trouble and the government is dithering over whether to provide support in the form of fiscal stimulus; Finance Minister Olaf Scholz suggested Germany could muster 50 billion euros ($55 billion) of extra spending in an economic crisis
  • Federal Reserve Chairman Jerome Powell will have no lack of material to choose from when he kicks off the central bank’s annual Jackson Hole symposium Friday with a speech on the challenges for monetary policy
  • China’s central bank said it’ll start releasing a new reference rate for bank loans, a further step in a long-awaited reform to interest rates; here’s a QuickTake on what’s behind the shake-up
  • Japanese exports fell for an eighth straight month in July, weighed down by shipments of auto parts and semiconductors, as slowing economic growth and trade battles raise fears of a global recession
  • Singapore extended support for older workers in the aging island nation, as the current leadership prepares to hand over to a new generation in coming years
  • Global trade tensions took a toll on Israel’s $370 billion economy, chipping away at its exports and contributing to a slowdown last quarter that was worse than anybody had envisioned

To contact the reporter on this story: Enda Curran in Hong Kong at ecurran8@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Jiyeun Lee

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