Trump-China Handshake, World Recession Risk, BOE Revamp: Eco Day

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

• The pledges China and the U.S. made to keep prospects alive for a comprehensive trade deal did little to alter the deteriorating growth outlooks for both countries because they were sealed with something economists don’t trust: a handshake
• The official Chinese response to the “phase one” deal reached Friday was wary but welcoming, underlining that Beijing has few options but to play along
• President Donald Trump said the U.S. is “ready to go” with more sanctions on Turkey in response to its incursion into Syria
• The global economy is wobbling and whether it topples over is the big question in financial markets, executive suites and the corridors of power
• The Bank of England rate-setting committee should be drastically overhauled to follow the model of the Federal Reserve, otherwise it will remain hostage to the “tyranny of consensus,” says former policy maker Danny Blanchflower
• Red tape is a familiar problem across Germany and underscores the challenges facing the country as it risks stumbling into recession
• The guardians of the world economy head to Washington this week under the cloud of slowing growth

To contact the reporter on this story: Chris Bourke in Sydney at cbourke4@bloomberg.net

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

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