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$55 Trillion Debt, Sweden Rate Rise, China to Grow 5.9%: Eco Day

What Next for China? Japan’s Racing Economy, Banker Bot: Eco Day

(Bloomberg) -- Welcome to Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:

  • The World Bank warned that the biggest, fastest, and broadest buildup of debt across emerging and developing economies in a half century means policy makers must quickly strengthen protections against financial shocks
  • Sweden’s central bank ended half a decade of negative interest rates, bringing relief to its finance industry and providing a test case for counterparts around the world experimenting with subzero borrowing costs. Jamie Rush and Johanna Jeansson look at some of the lessons learned
  • China’s economic growth will come in at 5.9% in 2020 as easing trade tensions and the prospect of lower bank borrowing costs boost confidence, according to analysts and traders
  • Chinese visitors seeking a blue-sky break in Sydney’s summer instead have encountered wildfire-induced smog choking the city, forcing tour operators to divert guests to other parts of Australia. The economy is likely to feel the fallout
  • Filings for U.S. unemployment benefits fell last week by the most since February, though missed forecasts for a larger drop
  • India’s surging inflation rattled members of the Monetary Policy Committee, prompting a unanimous vote to keep rates steady
  • The FT reports that Financial Conduct Authority head Andrew Bailey has been selected as the new governor of the Bank of England. Meantime, the central bank has asked regulators to investigate how an audio broadcast of some of its press conferences was misused
  • Four interest-rate cuts in Indonesia this year have done little to drive down borrowing costs, prompting policy makers to turn to other tools to spur lending
  • As the Trump administration spikes the football on its “landmark” phase one deal with China, spare a thought this holiday season for the biggest loser: the WTO. Bryce Baschuk looks at the implications in the latest edition of Terms of Trade
  • Brazil’s economy has missed expectations for two consecutive years, but investors and the government think it will be different this time
  • Myanmar’s genocide trial threatens to weigh on tourism by prompting higher-spending European and U.S. visitors to stay away
  • President Xi Jinping is set to give a major speech in Macau as the former Portuguese colony celebrates the 20-year anniversary of its return to Chinese rule
  • A look at how China’s Communist Party quietly built a real estate empire in Hong Kong

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

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

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