Split-Screen Recovery, North-South Divide, Price Alert: Eco Day

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

  • The economic rebound powering the S&P 500 Index has skipped large swaths of Main Street, with small businesses waiting to join the party
  • The economic divide between China’s prospering southern regions and lagging northern areas will continue to widen in coming years
  • The world’s worst Covid-19 outbreak in India risks fanning price pressures, threatening to limit the central bank’s options to support the economy. Over in the U.S., a bond-market gauge of inflation expectations soared to the highest level in eight years
  • The European Commission is seeking powers to levy fines or block deals by foreign state-owned companies in a thinly veiled response to the growing economic threat posed by China
  • South Korea’s consumer sentiment strengthened in April for a fourth straight month as the economic recovery powered ahead
  • Tiff Macklem said he remains committed to the Bank of Canada’s 2% inflation target, even as the goal is likely to temporarily overshot
  • The Fed will stick to its policy glide path at its meeting Wednesday, Bloomberg Economics predicted in this wrap of its latest research
  • Drama around one of China’s biggest bad-debt managers highlights an urgent need to simplify oversight of the nation’s financial system
  • The head of the WTO raised an alarm about the credibility of the multilateral trading system, urging leaders to act fast to bolster the global economy with steps like fairer vaccine distribution
  • President Joe Biden‘s team is planning to forgo an expansion of the estate tax in tax-hike proposals. It’s not the rich who should be afraid of the tax plans. It’s the really rich who should be nervous
  • Singapore officials trying to digitize the economy are targeting tricky holdouts: elderly vendors who run the country’s famed hawker stalls
  • Saudi Arabia’s unemployment will fall below 11% this year as the kingdom’s economy goes through a “V-shaped” recovery, Crown Prince Mohammed Bin Salman said in a local TV interview
  • Jamie Dimon is sending a message to his fellow Wall Street chiefs: It’s time to bring employees back to the office

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.