JPMorgan, Citi See Grind, Chinas World, 60% Price Rise: Eco Day

Welcome to Wednesday, Asia. Heres the latest news and analysis from Bloomberg Economics to help you start the day:

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• Two of the biggest U.S. banks are gaining confidence that the pandemic wont send the economy into a calamitous slide, even if they see a long path back to growth

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• China is cementing its status as the worlds dominant trading nation, confounding warnings that a once in a century pandemic combined with simmering tensions with the U.S. would derail that status

• The cost of unchecked monetary financing is a 60% price rise, Bloomberg Economics estimates

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• India opened dozens of new bridges -- many of them providing all-weather access along its disputed border with China -- in a move that could provoke a fresh round of tensions

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  的-可怕较少视图在IMF警告说，世界经济仍面临的不均匀恢复直到冠状甚至驯服如我吨提供今年的衰退

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• The IMF warned that the world economy still faces an uneven recovery until the coronavirus is tamed even as it offered a less-dire view of this years recession

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• The G-20 is poised to renew a debt-relief initiative for the worlds poorest countries struggling with Covid-19 through at least the first half of 2021

• The EU won WTO won permission to hit $4 billion of American goods with tariffs but will likely hold fire until after the U.S. election

• ECB officials revealed differences in opinion about the next steps they should take to support the economy and boost inflation

• A $23-million program offering a digital health ID to every citizen could bolster India‘s economic growth amid the coronavirus pandemic, according to the head of the country’s health authority

• Prospects for U.S. fiscal stimulus before Election Day dimmed on Tuesday, with House Speaker Nancy Pelosi demanding the White House revamp its latest offer and Senate leader Mitch McConnell pushing a smaller-scale strategy that Pelosi quickly rejected

• Irelands government unleashed a record package of budget measures to counter the dual threats of Brexit and the pandemic, as new restrictions threaten to derail a nascent economic recovery

• Used-car prices surged in September by the greatest amount in a half-century, accounting for most of the increase in the governments latest monthly consumer-price index

• When a crisis forced Emmanuel Macron to rethink his economic philosophy, he recruited a former cabbie