(Bloomberg) -- Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
The world economy is entering the second half still deeply weighed down by the pandemic with a full recovery now ruled-out for this year and even a 2021 comeback dependent on a lot going rightA mass exodus of workers that followed India’s harsh lockdown is forcing businesses to review their labor policies as they try to lure the people back with incentives as the economy reopensEconomists are divided on the outlook for Australia’s recovery: many see a U-shaped, while a growing number see a W-shaped. Both support the RBA view interest rates will remain low for a long timeAlready scarred by the global financial crisis a decade ago, a generation of younger people is bearing the economic brunt of the coronavirus. Even billions of dollars in fiscal stimulus is struggling to cushion the blow as the pandemic worsens generational inequalityAsia’s composite PMIs point to notable improvement across economies, writes Chang Shu, while noting a virus ceiling aheadAustralia’s immigration program, a key factor in a record stretch without recession, is under threat amid calls for the nation to turn inward while it recovers from the pandemicThe coronavirus is inflicting a price shock on low income Americans that risks further driving up inequalityThe pandemic has permanently changed European economic policy, locking in a more extensive set of monetary tools and forcing the creation of a powerful joint fiscal plan, according to European Central Bank policy maker Francois Villeroy de GalhauChild labor could be on the rise as world food demand falters, the latest ugly turn of the pandemic
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
©2020 Bloomberg L.P.