New Japan Leader, Rich And Poor, Destination Inflation: Eco Day

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

• Yoshihide Suga’s victory in the Liberal Democratic Party’s leadership election is a clear vote for continuity. Yet, the last time a long-serving Japanese prime minister stepped down, the country saw about six leaders in quick succession
• The U.S. economic recovery is wildly uneven. More than 13 million Americans are unemployed. At the same time, some are actually richer -- thanks to a surging stock market and housing boom
• The Federal Reserve’s push for higher inflation means crafting new tactics that convince Americans it won’t clamp down on rising prices
• Toyota won’t expand further in India due to the country’s high tax regime. It’s a blow for Prime Minister Narendra Modi, who’s trying to lure global companies to offset the deep economic malaise brought on by the pandemic
• U.K. Prime Minister Boris Johnson’s plan to renege on part of the Brexit divorce deal passed its first hurdle in Parliament, but not until after a bruising debate that saw senior members of his party denounce the move
• The U.S. updated its travel advisory on Hong Kong based on China’s national security law, strongly cautioning U.S. citizens to be “aware of their surroundings and avoid demonstrations”
• Morgan Stanley economists said failure by Republicans and Democrats to agree on a fresh round of U.S. fiscal stimulus would delay the recovery by six months
• Canada’s largest lenders are warning Prime Minister Justin Trudeau’s government it doesn’t have carte blanche to run massive budget deficits
• The pandemic may permanently replace some human jobs with machines, according to a new study on Monday from the Federal Reserve Bank of Philadelphia

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