Patel's Shock Exit, New Brexit Chaos, China Rate Debate: Eco Day

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

• Urjit Patel’s shock exit as governor of the Reserve Bank of India has dealt investors another bout of monetary policy uncertainty -- here’s a quick summary of why Patel decided he’s had enough. His exit may shift the RBI to a more balanced path, argues Abhishek Gupta
• Faced with a humiliating defeat on her Brexit deal, embattled U.K. Prime Minister Theresa May told the House of Commons she would defer a vote and return to Brussels. The EU won’t allow May to reopen negotiations on the divorce deal -- but it could offer some of the reassurances she says she wants, officials said
• Any decision on cutting interest rates in China weighs the need to bolster the slowing economy with the objectives of curtailing the debt buildup and preventing a slump in the currency
• Meantime, here’s how Asia fell out of love with China’s belt and road initiative
• Ties between China and Canada are strong enough to withstand the arrest of a senior Huawei executive while on a stopover in Vancouver, Justin Trudeau’s trade minister says
• U.S. job openings rebounded in October, exceeding the number of unemployed workers by 1 million, indicating demand for workers was strong before November’s slowdown in payroll gains
• President Emmanuel Macron admitted he’d lacked sensitivity to the concerns of regular people and promised a raft of new spending as he sought to draw a line under the month-long Yellow Vests crisis roiling France. Here’s how the protests swelled into a risk for Macron
• Goodyear is halting its Venezuela operations and laying off its local workforce, offering 10 tires per employee as a severance package
• Here’s our take on why central banks have become political punching bags

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke

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