Vaccine Travel Politics, Draghi’s Plan, China’s Growth: Eco Day

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

  • Eager world travelers are quickly finding that their choice of vaccine could determine where they’re allowed to go. Hong Kong and Singapore are the latest to announce an attempted travel bubble, with a revival of those plans set for May 26
  • Prime Minister Mario Draghi goes to Parliament on Monday to present details of his 222 billion-euro ($267 billion) plan to re-engineer Italy’s economy, a test of the European Union’s post-pandemic recovery fund
  • The world’s biggest Covid crisis rages in India, threatening Prime Minister Modi’s grip on power and putting renewed stress on the economy. The U.S. is among those sending resources to the ravaged country
  • The Chinese economy kept up its surge in April from record growth at the start of the year, helped by exports and rising business confidence
  • The Bank of Japan is expected to keep monetary stimulus unchanged Tuesday, with its economic forecasts in the spotlight after a renewal of the state of emergency
  • U.S. first-quarter GDP figures and the Federal Reserve’s mid-week meeting will take center stage this week in a busy one for the global economy
  • The Federal Reserve is expected to begin trimming its $120 billion in monthly asset purchases before the end of the year as the U.S. economy recovers strongly from Covid-19, according to economists surveyed by Bloomberg
  • Joe Biden is betting $100 billion he can deliver a lifeline to rural America, and a boost to the economy overall, by making high-speed Internet available to all Americans
  • Chile’s president will push his own bill to allow workers to tap their pension funds for the third time amid the pandemic, changing course after opposing a similar proposal approved by congress
  • North Korea’s economy is seen to be barely expanding amid persistent Covid pain

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