Trump's Terrible Day, Trade War's Next Phase, Fed Rates: Eco Day

(Bloomberg) -- Welcome to Wednesday, Asia. Here’s the latest news from Bloomberg Economics:

• Double Trump trouble: The U.S. president’s longtime lawyer and fixer Michael Cohen admitted he made illegal campaign contributions at the behest of Trump, just as a jury found the president’s former campaign chairman, Paul Manafort, guilty of tax and bank fraud charges
• Making America great again isn’t proving so great for other parts of the world: the U.S. is set to be the only Group of Seven nation to see economic growth accelerate this year as Trump’s tax cuts kick in
• The U.S.-China tit-for-tat tariffs will cause China’s economy to slow more sharply next year if they’re enacted, according to our survey of 16 analysts; as talks between the two nations resume this week, here’s a look at what’s next in the ongoing dispute
• Federal Reserve minutes due later today may provide clues on what’s becoming an increasingly controversial topic: the outlook for interest rates next year
• For all the frenzy over the Bank of Japan’s first policy tweak in almost two years, little seems to have changed for the nation’s insurers
• Beaten-down Venezuela has begun confronting a 95 percent currency devaluation and a regimen of economic controls that, after years of hunger and hyperinflation, landed like a hassle rather than a cataclysm
• The Brazilian real slumped after new polls showed that market-friendly presidential candidates are lagging rivals in the run-up to the nation’s most uncertain election in more than 30 years

To contact the reporter on this story: Chris Bourke in Sydney at cbourke4@bloomberg.net

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

©2018 Bloomberg L.P.