Yellen Steps Up, Unfinished Trade File, China’s Dilemma: Eco Day

WILMINGTON, DELAWARE - DECEMBER 01: U.S. Secretary of the Treasury nominee Janet Yellen speaks during an event to name President-elect Joe Biden’s economic team at the Queen Theater on December 1, 2020 in Wilmington, Delaware. Biden is nominating and appointing key positions to the Treasury Department, Office of Management and Budget, and the Council of Economic Advisers. (Photo by Alex Wong/Getty Images)
WILMINGTON, DELAWARE - DECEMBER 01: U.S. Secretary of the Treasury nominee Janet Yellen speaks during an event to name President-elect Joe Biden’s economic team at the Queen Theater on December 1, 2020 in Wilmington, Delaware. Biden is nominating and appointing key positions to the Treasury Department, Office of Management and Budget, and the Council of Economic Advisers. (Photo by Alex Wong/Getty Images)

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

  • Treasury Secretary nominee Janet Yellen on Tuesday steps into a new role following more than a quarter-century: salesperson for economic policy after years of defending Fed thinking and actions
  • President-elect Joe Biden inherits a litany of unresolved trade issues from Donald Trump, posing an early test for his administration
  • China’s economy roared back to pre-pandemic growth rates as its industrial engines fired up, But the recovery masks the yawning gap between rich and poor that’s holding back stronger consumption
  • Two of India’s richest men have landed in an unlikely controversy over farming laws, becoming targets of protesters who allege the tycoons benefited from close links to Prime Minister Narendra Modi
  • Chinese President Xi Jinping, his French counterpart Emmanuel Macron and German Chancellor Angela Merkel will be among the speakers at the online event the World Economic Forum is holding
  • Malaysia unveiled a 15 billion ringgit ($3.7 billion) package to help the economy weather the impact from a fresh surge of infections
  • Price growth in Germany is likely to be “clearly positive” this month for the first time in half a year, according to the Bundesbank
  • China is in talks with Kenya on a debt-service suspension deal
  • Covid kills England’s poor at triple the rate of the rich: chart
  • Most ex-presidents play golf, get their libraries in order, make well-paid speeches, write even more lucrative memoirs and bite their tongues. The road ahead for Donald Trump, a president who has never adhered to his office’s norms, will be unlike any other