Goldman Cuts U.S., Decoupling Engine, Japan Contenders: Eco Day

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

  • Goldman Sachs revised down forecast U.S. economic growth this year, pointing to a “harder path” ahead for the American consumer
  • China’s regulatory efforts to increase control over its technology sector adds another “decoupling engine” to the global economy
  • Bloomberg Economics looks at Japan’s leadership contenders and their policies. Meantime, green energy stocks surged on bets anti-nuclear politician Taro Kono could become prime minister
  • Singapore, one of the word’s most vaccinated countries, is taking new steps to slow Covid-19 cases but can’t rule out hard curbs
  • India’s central bank announced additional operations to soak up excess liquidity from the banking system that’s at an 11-year high
  • China’s leaders have been signaling that they intend to use new taxes to meet their “common prosperity” goals, but analysts say most such initiatives will require years to be fully formed
  • U.K. Chancellor of the Exchequer Rishi Sunak is facing five crucial fiscal decisions — including the biggest overnight welfare-benefit cut in history. Boris Johnson’s reluctance to turn to the EU to ease a supply crisis highlighted his government’s priority: Brexit first
  • The world economy risks turning stagflationary, says Simon Kennedy
  • A military junta that seized power in Guinea said it plans to establish a unity government and urged mining companies to keep operating

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