Xi Labeled ‘Zealot’, U.S. Recession, BOK in Club Zero: Eco Day

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

• The U.S. Agriculture Department’s top trade official called Chinese President Xi Jinping a “communist zealot,” warning farmers he is a tough adversary in negotiations
• For all the debate on whether the U.S. is headed for a recession, there’s plenty of evidence that corners of the economy may already have tumbled into one
• How low can the Bank of Korea go? Will it join the club of central banks with interest rates at or very near zero?
• Fed officials worried about sliding inflation expectations won’t take much comfort from the latest monthly survey of U.S. households
• ECB chief Mario Draghi will test the composure of global counterparts as he unleashes a barrage of stimulus to shore up economic growth
• Almost 40% -- or some $15 trillion -- of the world’s foreign direct investment is “phantom capital” designed to minimize the tax bills of multinational firms, according to a study
• As a growing number of banks around the world refuse to move money on President Nicolas Maduro’s behalf, Venezuela has found an ally in the Bank of Spain

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, Chris Bourke

©2019 Bloomberg L.P.