Pursuit of Wealth, China Trade, Japan’s Covid Aid: Eco Day

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

• In China, the U.S., Japan, and Germany, younger generations are rethinking the pursuit of wealth
• China’s exports and imports grew faster than expected in November, with both hitting records as external demand surged ahead of the year-end holidays and domestic production rebounded as a power crunch faded
• With Chinese economic policy makers shifting toward easing mode, the question on traders’ minds is how far the government is prepared to go
• The Bank of Japan is likely to narrow the scope of its Covid aid, but keep it in place for longer, in an attempt to focus on businesses that still need help, says a former top official
• Australia is weighing plans for a central bank-issued digital currency alongside the regulation of the crypto market as it seeks to overhaul how the nation’s consumers and businesses pay for goods and services
• The Bank of Canada is expected to keep the spotlight on inflation at its policy decision this week, as it nears the start of an aggressive campaign of interest rate hikes
• Housing costs are normally among the stodgiest components of the U.S. consumer price index. Right now, however, they have the potential to poke another hole in the narrative that inflation will soon fade as pandemic-induced pressures ease
• U.S. Senator Elizabeth Warren renewed her call for the Federal Reserve to release more information about the investment activity of officials during the pandemic last year
• Senate Banking Chair Sherrod Brown said Tuesday that confirmation hearings for Jerome Powell as Federal Reserve chair and Lael Brainard for vice chair won’t be held until January, along with three other Fed nominees yet to be named

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