U.S.-China Cooperate, Vietnam Stall, German Job Support: Eco Day

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

• The U.S. and China reaffirmed their commitment to the phase-one trade deal in a biannual review, demonstrating a willingness to cooperate even as tensions rise over issues ranging from data security to democracy in Hong Kong
• For the past three decades, Vietnam has known only good, or great, economic news. Coronavirus has changed all that
• Germany extended a program that has kept millions of people from losing their jobs to help the economy recover
• If Shinzo Abe resigns over health problems, the next Japanese prime minister might tweak policy on everything from China ties to monetary policy, without making drastic changes
• The Bank of Korea is expected to hold its policy rate at a record low while slashing growth projections as a resurgence of the coronavirus throws recovery prospects into disarray
• The Covid-19 pandemic, recession, and uneven recovery will make for extreme conditions in the final 10 weeks before U.S. elections, writes Andrew Husby
• From the top of the U.S. government came criticism of another Chinese export that’s swamped the world economy — a pandemic. From another corner of Washington came a U.S. statement of trust in Beijing. Trust, mistrust colors the pitches to the American electorate.
• There’s hardly any question that carries greater weight in economics right now, or divides the financial world more sharply, than whether inflation is on the way back
• Thailand’s Transport Ministry plans to accelerate spending on roads and rail projects in the fiscal year starting in October to aid an economy hammered by a slump in exports and tourism
• Wuhan beat coronavirus. Now the region’s moving on by shutting out the world

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