U.S.-China Aid Divide, Oil Threat, Turbocharged GDP: Eco Day

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

  • The U.S. and China are pursuing divergent economic policies in the aftermath of the coronavirus recession, a role reversal since the last time the world economy was recovering from a shock

    • American businesses in China see their industries growing this year after the Covid-19 pandemic dented profits in 2020, with growing hopes the two nations will seek to mend ties, a survey by the American Chamber of Commerce shows

  • A U.S. recovery turbocharged by President Joe Biden’s stimulus package will help power a faster than expected global economic upswing that risks leaving Europe behind, according to OECD forecasts

  • After two years of talks, the U.S. and European Union have reached agreement on how to adjust so-called tariff-rate quotas that had to be renegotiated after the U.K. left the bloc
  • The spike in oil prices has focused attention on how the steady rise in energy costs is threatening to create a drag on the global economic recovery and stoking fears of inflation
  • The Bank of England is moving to tamp down talk about rising interest rates and inflation, focusing attention on risks to the U.K. economy as it struggles to emerge from lockdown
  • It’s economic planners are used to setting ambitious targets, and its latest five-year plan through 2025 is no exception. Here are some of the most impressive numbers outlined at the annual National People’s Congress

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