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Good as It Gets, Weaker U.S. Jobs, Australia Taper Talk: Eco Day

Good as It Gets, Weaker U.S. Jobs, Australia Taper Talk: Eco Day

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

  • The pandemic’s summer resurgence is slowing the global recovery as the delta variant dogs efforts to rev up factories, offices and schools
  • U.S. hiring downshifted abruptly in August with the smallest jobs gain in seven months, complicating a potential decision by the Fed to begin scaling back monetary support by year end
  • Australia’s central bankers are set to revisit the question of whether to delay a planned taper of bond purchases. Meantime Treasurer Josh Frydenberg says the economy has shown resilience in the face of China’s trade curbs, while the UN urged Australia to join G-20 counterparts in committing to a net zero emissions target
  • China’s “common prosperity” isn’t just about taxing the rich but also directing resources into rural areas and the lower-income group
  • The ECB has to decide whether it should dare to dial down emergency stimulus while the pandemic still menaces the euro-zone economy
  • French President Emmanuel Macron was among the first European leaders to deploy a massive public spending plan. Now his government is launching a campaign to show it’s actually working
  • Spain will still raise the minimum wage to tackle a growing wealth gap amid the fastest acceleration in inflation in nearly a decade
  • The UAE plans to deepen its trade ties in fast-growing economies in Asia and Africa, and draw $150 billion in foreign investment
  • Turkey raised its year-end inflation estimate in the newly unveiled three-year economic program
  • Canceled share sales. Ruined business models. Tech moguls brought to heel. Barely a day goes by without more news on the widening scope of Beijing’s crackdown on private enterprise. Yet money from around the world continues to flow into mainland China

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