What to Watch at Boao, Fed Evokes 1998, Korea Shortfall: Eco Day

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

  • The Boao Forum for Asia this week provides a yardstick to measure China’s progress in implementing President Xi Jinping’s promises to open the nation’s economy more to outsiders
  • Meantime, there’s growing evidence that China’s efforts to make the yuan more market-oriented are gathering momentum
  • The Federal Reserve is getting monetary policy “about right” after pivoting in recent weeks to a decidedly more dovish posture, say a plurality of economists surveyed by Bloomberg
  • For Chicago Fed President Charles Evans, the U.S. central bank’s wait-and-see mode recalls the Asian financial crisis of 1998
  • Weakness in income outside of wages helps explain a disconnect between Australia’s robust jobs market and slowing economy, said a senior central bank official
  • South Korean President Moon Jae-in must boost government spending by about $9 billion more than originally planned this year if he wants to meet his economic growth forecast
  • Indonesia’s economy, the biggest in Southeast Asia, is getting a boost from an election campaign that’s kicking into high gear

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