Run-It-Hot Returns, Battered Bali, World’s Biggest Deal: Eco Day

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

• Behind President-elect Joe Biden’s plans to drive the U.S. back to full employment after the coronavirus slump lies a long-lost idea: The unemployed need jobs, not skills
• Bali, the hardest-hit economy among Indonesia’s provinces, is seeing a pick-up in activity as its governor continues debating when and how the island can reopen to international travelers
• Asia Pacific nations including China, Japan and South Korea signed the world’s largest regional free-trade agreement, encompassing nearly a third of the world’s population and GDP. It’s likely to have significant longer-term implications, writes Yuki Masujima
• Donald Trump showed few signs of conceding the presidential election to Joe Biden for a week after the race was called, while also hardly acting as if he was preparing for a second term
• Progress on developing a Covid-19 vaccine will bolster business confidence and an economic recovery by showing the pandemic can be controlled, Spain’s Economy Minister Nadia Calvino said
• The U.S. probably began the final quarter with a steady performance by retailers, factories and homebuilders, with President Donald Trump renewing a push for lawmakers to proceed with fresh stimulus
• President-elect Joe Biden and Vice President-elect Kamala Harris will speak today on plans for a post-Covid recovery, while former Fed Chair Janet Yellen is being considered for Treasury secretary
• The U.K. may have posted its sharpest-ever economic rebound in the third quarter, but its recovery is trailing well behind rest of the world’s industrialized nations. Its central bank’s worst leak in almost a quarter of a century of monetary policy independence has also cast doubt on the institution’s ability to keep a secret
• U.K. Prime Minister Boris Johnson is expected to unveil a green 10-point plan on Wednesday, as he weighs controversial proposals to ban the sale of new petrol and diesel cars within a decade
• Turkey may need to deliver a far smaller interest-rate increase than forecast by some of the biggest global lenders, Morgan Stanley says, as Istanbul’s mayor urged a shutdown of two to three weeks for the city that accounts for more than 50% of Turkey’s coronavirus cases
• A conference aimed at European investors who want to tap Iranian markets if U.S. sanctions are again lifted will take place next month
• When it comes to economic policy, President-elect Joe Biden is putting racial disparities high on the agenda of his administration

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