Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:
- Treasury investors fretting about when the Fed will scale back its bond purchases may be missing the bigger picture: Its more than $5 trillion stockpile will make it a major force for years to come
- Asian economies have been slow in rolling out vaccination programs after early successes in controlling the coronavirus, leaving the region vulnerable to further economic damage, writes Chang Shu
- The U.S. called for a global minimum corporate tax of at least 15%, less than the 21% rate it proposed for overseas earnings of U.S. businesses -- a level that some nations had argued was excessive. Here’s an explainer of the plans for a global minimum tax revolution
- A senior Taiwan official said U.S. assistance securing more Covid-19 vaccines could serve to protect the critical semiconductor industry
- China intensified its rhetoric around surging commodity prices as it tries to keep inflation pressures at bay, while employment is expected to stay generally stable, though challenges will persist
- Australia’s relentless recovery struck an air pocket as sentiment retreated and employment fell for the first time in seven months
- New Zealand Finance Minister Grant Robertson said he wants to return to a more sustainable fiscal position with lower net debt
- Canada further tightened mortgage qualification rules, stepping up efforts to slow loan growth and cool a booming housing market
- Fed Chair Jerome Powell turned up the volume in the U.S. digital dollar debate as Norway’s central bank warned dramatic price swings in cryptocurrencies could spell trouble for the banking system. The Bahamas became a global leader in e-money with the “sand dollar”
- South Korea’s producer prises rose at the fastest pace in a decade last month, adding to evidence of emerging inflationary pressures
- Stephanie Flanders and Michael Sasso look at why inflationary fears may not outlast the pandemic in their weekly podcast
- Central banks in Indonesia, South Korea, and New Zealand are likely to keep rates steady, Bloomberg Economics writes of the week ahead
- Germany must be careful unwinding its pandemic support to limit economic scarring and ensure its recovery is sustained, the IMF said
- Chile’s constitutional assembly election sent a shock wave through markets and raises economic uncertainty, writes Felipe Hernandez
- They’ll miss their parents, their favorite hiking spots and the chatter of their mother tongue on the streets. Some don’t want to go, even if it means the risk of detention. There are no easy decisions for Hong Kong residents as their city is gradually reshaped by China
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May 21, 2021 at 06:39AM
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Fear Not Taper, Shadow Over Asia, Global Tax Revolution: Eco Day - Bloomberg
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