Kashkari Delta Alert, China Activity Eases, RBA U-Turn: Eco Day

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

• Minneapolis Fed President Neel Kashkari said the spread of the delta variant of Covid-19 could keep some Americans from looking for work, potentially harming the U.S. recovery
• China’s economic activity continued to ease, implying a more steady recovery into the second half of the year as growth risks mount
• Australia’s central bank faces the awkward prospect of having to walk back a taper announcement made only a month ago
• Call it progressive authoritarianism. From exhausted couriers to stressed parents struggling with ever-rising housing prices and tuition fees, to small businesses battling tech monopolies, Xi Jinping is swinging the cudgel of state power to support the middle class
• South Korea’s exports of chips, computers and other technology products helped boost overseas sales to a record in July
• The U.S. debt ceiling officially became operative again on Sunday after a two-year suspension
• Massive stimulus looks here to stay as the Bank of England seems set to echo the Fed this week
• Governor Lael Brainard staked out some different ground from Chair Jerome Powell as the policy makers await a presidential decision on who should lead the central bank in the coming four years
• India is likely to see a rise in Covid-19 infections building into a new virus wave that may peak in October, according to a mathematical model by researchers who accurately predicted recent moves

©2021 Bloomberg L.P.