Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:
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- Global finance chiefs will make their most concerted effort yet to redefine the world economic order in the era after Trump and Covid
- Central bankers are engaged in the most sweeping rethink of their role in decades, spurred by successful government collaboration
- Thirty years ago, on a summer evening in late July, India liberalized its Soviet-style economy in a transformation that eventually pulled about 300 million out of poverty. Then came the world’s fastest coronavirus surge and unwound much of that success
- Investors are backtracking on reflation bets
- The minimum wage is hotly contested every year in South Korea. This year the issue is more fraught than usual
- Hong Kong’s emerging recovery from an historic recession fueled by the pandemic and political protests is throwing into stark relief the deepening wealth imbalances between the working class and elite
- A political heavyweight in Japan’s ruling party called for a new stimulus package after Tokyo was put under a state of emergency
- India’s risk-averse lenders are emerging as one of the biggest hurdles to the speed of the nation’s recovery
- Indonesia has lost its prized upper middle-income status after a year
- The ECB’s biggest strategic rethink since the creation of the euro sets the terms of engagement for a half decade of post-pandemic monetary debates. Meantime, policy makers rejected a proposal to clarify when and under which circumstances they might be ready to tighten monetary policy following changes to their inflation goal
- G-20 finance ministers are poised to endorse a global tax overhaul and call for finishing work on the details of the accord by October
- Hungry and angry. International food prices have risen close to their peak 10 years ago, when they triggered waves of protests, especially in the Middle East. The region is still exposed today, writes Ziad Daou
- Latin America’s central banks are under pressure to raise their interest rates after reopening economies fueled core inflation
- Chancellor Angela Merkel visits President Joe Biden in the White House and Japan and Canada decide interest rates in the week ahead
- Stephanie Flanders and Michael Sasso look at the debate over China surpassing the U.S. in this week’s Podcast
- The Tokyo Olympics will ban domestic spectators in events held in Japan’s capital as the resurgence of virus cases pushed the government to declare a state of emergency in the city. Here’s a quick overview of why the Tokyo Olympics will be like no other
De-Trumping Economic Order, Policy Rethink, India Redux: Eco Day - Bloomberg
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