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China Eases, Dollar Dominance, Argentine Price Freezes: Eco Day
China Eases, Dollar Dominance, Argentine Price Freezes: Eco Day
29 Aug 2019, 05:12 PM IST
(Bloomberg) --
Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:
- China indicated that it wouldn’t immediately retaliate against the latest U.S. tariff increase, emphasizing the need to discuss ways to deescalate the trade war
- China’s economy slowed further in August as weak domestic conditions and worsening global trade all combined to undermine the outlook
- There’s a serious imbalance at the heart of the world economy. Even though the output of the U.S. has shrunk as a share of world gross domestic product, the U.S. currency remains as essential as ever. It needs a rival
- Treasury Secretary Steven Mnuchin said issuing ultra-long U.S. bonds is “under very serious consideration.” He also said officials expect Chinese negotiators to visit Washington, but wouldn’t say whether a previously planned September meeting would take place, and added the U.S. doesn’t intend to intervene in the dollar right now
- U.K. Prime Minister Boris Johnson’s power play to get Britain out of the EU could deal another blow to the economy
- Alberto Fernandez, who’s on the cusp of being elected president in Argentina, is warning that he would freeze electricity and natural gas prices for a year, according to people familiar with the matter
- Argentina said it will propose an extension of debt maturities held by institutional investors, only postponing the pain, writes Bloomberg Economics’ Adriana Dupita
- Germany is looking to cap its corporate tax burden at 25% as the country seeks to help smaller businesses amid signs the economy is lurching into a recession
To contact the reporter on this story: Eddie Spence in London at espence11@bloomberg.net
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss
©2019 Bloomberg L.P.
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