Tuesday, October 26

China Power Shock, Fed Tapering Soon, World in 2050

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(Bloomberg) — Welcome to Tuesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.

China’s energy crisis is shaping up as the latest shock to global supply chains as factories are forced to conserve powerFed officials reinforced the bank’s message that it would probably begin winding down its bond-buying program soonTwo regional Fed presidents are retiring following embarrassing revelations of stock trading last year, removing a couple of the bank’s more hawkish officials Chair Jerome Powell said supply bottlenecks have been longer lasting than anticipated, and he expects inflation pressures to remain high in coming months before easing Bloomberg Economics has assembled our forecasts for growth out to 2050 across major economies . There’ll be a change in the drivers as China slows and India and Indonesia will make a bigger contributionJapan’s government said a projectile launched by North Korea on Tuesday may have been a ballistic missileChina’s central bank vowed to ensure a “healthy property market” after Evergrande’s debt crisis roiled global marketsTreasury Secretar y Janet Yellen has declined to return calls from beleaguered IMF, chief Kristalina Georgieva since a scandal brokeSouth Korea’s consumer confidence ended a two-month slide, suggesting consumers are putting the virus outbreak behind themFor the winner of a party leadership vote to pick Japan’s third pandemic -era prime minister, a heavy lift awaits on the economyBank of England Governor Andrew Bailey moved to reinforce the option that interest rates could rise as early as this yearA new study published by the New York Fed offers a model for potential future stress tests on big banks for their exposure to risks from climate change, according to Morgan StanleyZambian President Hakainde Hichilema named Denny Kalyalyaas central bank governor, returning the well-regarded economist to the job 13 months after his shock dismissal hit the currency and bonds If China has a favorite in the battle to be Japan’s next prime minister, it’s probably not Sanae Takaichi

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