Business Intelligence Monitor 210922

(Introduction)

[Markets]

•   Global: Stocks steady as markets calm after Evergrande-led slide

•   Metals: Copper hits one-month low on renewed Evergrande fears

•   Grains: Corn eases as harvest progresses, soybeans firm

•   Cryptocurrency: Bitcoin Drops Below $40,000 as Regulatory Drumbeat Grows

[Indicators]

•   US Q2 Current account: U.S. current account deficit widens to 14-year high in second quarter

•   US Aug. Housing starts: U.S. Housing Starts Rose by More Than Forecast in August

※   A measure of backlogs rose to the highest since 1979

•   US Aug. MCI-EFI: Finance Industry Confidence Drops in August: ELFF

•   UK Aug. Public borrowing: UK public debt interest payments hit August record after inflation rise

•   Japan 2020 Land prices: Japan land prices fall for second year amid COVID woes

•   Indonesia Benchmark rate: Bank Indonesia Holds Rates as Economy Flashes Recovery Signs

•   Argentina Q2 GDP: Argentine Economy Shrank in Second Quarter Amid Worst Covid Wave

[Trackers]

•   Johns Hopkins University: COVID-19 Global Cases & Deaths

•   Worldometer: COVID Live Update

•   Bloomberg: Covid-19 Vaccine Tracker

•   NYT: Covid-19 Vaccine Tracker: Latest Updates

•   NYT: See Coronavirus Restrictions and Mask Mandates for All 50 States

•   FT: Pandemic crisis: Global economic impact tracker

•   CNN: Tracking America's recovery

•   Bloomberg: Global PMI Tracker

•   Bloomberg: The Covid Resilience Ranking

[News]

•   WSJ: China’s Regulatory Storm Risks Triggering Wider Economic Damage

※   As Beijing tightens rules on real estate, technology and other sectors, worries grow that it could trip up growth

•   WSJ: What China Must Do to Contain Evergrande Fallout

•   WSJ: J&J Says Covid-19 Vaccine Booster Two Months After First Shot Increases Protection

※   Trial participants in the U.S. who received a second dose eight weeks after the first had 94% protection against the illness

•   WSJ: Biden Urges Global Cooperation on Covid-19, Climate Change

※   President outlines foreign-policy vision rooted in diplomacy as some U.S. alliances face strain

※   White House: Remarks by President Biden Before the 76th Session of the United Nations General Assembly

•   WSJ: U.S. Pledge to Vaccinate Poor Countries Stumbles Amid Logistical Challenges

•   WSJ: At the U.N., China’s Xi Pledges to Stop Building Coal Plants Abroad

※   Beijing has been criticized by the U.S. and environmental groups over projects adding to pollution in developing countries

•   WSJ: Delta Variant Set to Slow but Not Derail Global Economic Recovery

※   OECD: OECD Economic Outlook, Interim Report September 2021

•   WSJ: Powell’s Taper Tightrope Could Be Complicated by Fed ‘Dots’

•   WSJ: Fed Faces Calls to Remove Officials Over Trades They Made While Setting Policy

•   WSJ: Billions Spent on Roads and Transit Projects Are Often Based on Optimistic Forecasts

※   Ridership projections can be used to justify expenditures on infrastructure

•   WSJ: U.S. and China Avert Potential Clash in U.N. Over Myanmar Representation

•   WSJ: Facebook Oversight Board Launches Review of Company’s XCheck System

•   WSJ: Apple Is Working on iPhone Features to Help Detect Depression, Cognitive Decline

•   WSJ: Zoom’s Nearly $15 Billion Deal for Five9 Under U.S. Government Review Over China Ties

•   WSJ: Why Container Ships Can’t Sail Around the California Ports Bottleneck

•   NYT: Democrats Begin Effort to Curb Post-Trump Presidential Powers

•   NYT: Unvaccinated and defiant, Bolsonaro pushes back against criticism in his U.N. speech.

•   WP: Congress’s failure to lift debt ceiling would devastate U.S. economy, study finds

•   FT: IEA urges Russia to ramp up gas supply to Europe

•   FT: Top EU official warns ‘something broken’ in transatlantic relations

•   FT: The submarine spat and the future of transatlantic trade

•   FT: ECB official and OECD warn of rising inflation risks

•   FT: What Germany’s election means for the country’s debt debate

•   FT: Europe’s lorry driver crisis to deepen next year, warns haulage boss

•   FT: UK pins hope on joining US, Mexico and Canada trade pact

•   FT: UK energy bills would soar by £550 without government intervention, say industry experts

•   FT: Cost of living crisis looms for Britain’s poorer households

•   FT: How Biden came round to relaxing Covid travel curbs for the vaccinated

•   FT: End of extra unemployment benefits gives little boost to US labour market

•   FT: Biden’s fuel price problem

•   FT: How Biden came round to relaxing Covid travel curbs for the vaccinated

•   FT: China’s property slowdown sends chill through the economy

•   FT: Evergrande used retail financial investments to plug funding gaps

•   FT: BlackRock and HSBC funds boosted Evergrande holdings as crisis loomed

•   FT: UK’s debut ‘green gilt’ sale draws blockbuster demand

•   FT: Asian buyers outbid Europe for spot supplies of US natural gas

•   Bloomberg: China Evergrande Misses Loan Payments to Banks as Bond Deadlines Loom

※   China housing ministry had telegraphed the loan payment miss

•   Bloomberg: Wall Street’s Message on Evergrande: China Has It Under Control

•   Bloomberg: Dalio Says Evergrande ‘Manageable’ Even as Investors Stung

•   Bloomberg: Zandi Warns Even Short Default Would Be Costly for ‘Generations’

•   Bloomberg: EU, U.S. Aim to Pledge More Enforcement to Curb China Risk

•   Bloomberg: U.S. Commerce Nominees Vow to Keep Key Tech Out of China’s Hands

•   Bloomberg: Federal Reserve's Lael Brainard Could Be Next Banking Watchdog

•   Bloomberg: Berenberg’s Levy Says Stop Worrying So Much About Fed Tapering

•   Bloomberg: Powell Draws Scorn From Toomey, Key GOP Senator, Over Politicized Fed

•   Bloomberg: Bank of America Cuts China’s Growth Forecasts Up to 2023

•   Bloomberg: One Covid Case Closes Venues, Limits Travel in Chinese City

•   Bloomberg: Iran’s Raisi Calls Sanctions U.S.’s New War Weapon in UN Debut

•   Bloomberg: Iran Says Nuclear Talks Will Resume Within ‘Next Few Weeks’

•   Bloomberg: Iron Ore Woes Endure as Chinese Steel Demand Faces ‘Last Hurrah’

•   Bloomberg: OPEC+ Can Proceed With Reviving Supply, Two Key Members Say

•   Bloomberg: Russia Sees Its Oil Output Close to Post-Soviet High Next Year

•   Bloomberg: Biden Doubles Climate Pledge in UN Speech in Test to Spur Global Action

•   Bloomberg: This Might Be the Biggest Win for Upcoming Global Climate Talks

•   Bloomberg: Beijing Pressures Top China Manufacturing Hub to Curb Power Use

•   Bloomberg: S. Africa Challenged Over Plans for New Coal Fired Power Plants

•   Bloomberg: Top U.S. Energy Official Sees ‘Unusual Partnerships’ for Nuclear

•   Bloomberg: Europe’s Big Climate Reveal Gets Stuck on Sovereign Bonds

•   Reuters: Spain's economy reboot firms and could reach pre-pandemic levels in 2021

•   Reuters: EU hopes to solve Northern Ireland's Brexit trade issues by year-end

•   Reuters: EU says people vaccinated with AstraZeneca shots should be able to travel to U.S.

•   Reuters: Exclusive: Taliban names Afghan U.N. envoy, asks to speak to world leaders

•   Reuters: BOJ to keep stimulus as deflation risks, supply disruption cloud outlook

•   Reuters: OPEC+ struggles to pump more oil to meet rising demand

•   Reuters: Solar industry demand raises temperature in silicon market

•   CNBC: WHO repeats warning against Covid booster shots for healthy people

•   CNBC: Germany’s economy could live or die under next coalition: Ifo experts

•   CNBC: Germany’s election race is too close to call as Socialists’ poll lead narrows

•   CNBC: Surging gas prices are 'transition premium' to renewables: OPEC chief

•   CNBC: Climate change: Net-zero carbon emissions could cost Asia trillions: ING

※   ING: Asia’s race to net-zero carbon: $12.4 trillion and counting

•   CNBC: World’s largest floating wind farm’ takes another step forward

•   SCMP: Can China stay ahead as a leading exporter of Covid-19 vaccines?

•   SCMP: Who is Xi Jinping? Looking for new clues in Communist Party tributes

•   SCMP: China debt: Evergrande’s magnate Hui Ka-yan and Chinese Estates’ founder Joseph Lau through the years

•   Nikkei Asia: Japan shipbuilding pins comeback hopes on zero-emissions vessels

•   Nikkei Asia: Global energy shortage looms as investment in fossil fuels slides

•   Nikkei Asia: The new population bomb

•   Economic Times: Nomura India Business Resumption Index plateaus in September

•   OilPrice.com: Global Copper Output On The Rise As Prices Soar

•   매경(P1): 韓·英 정상회담…"백신 50만명분 한국에 제공"

•   매경: 美긴축 예고에 숨고르던 코스피…中헝다 사태로 단기충격 불가피

•   매경: 카카오 김범수 '韓 최고 부자' 석달 천하…이재용 부회장에 다시 밀려

•   조선비즈: [세종풍향계] ‘홍장표號 KDI 100일’…비판 보고서도, ‘보직 맡겠다’는 사람도 사라졌다

•   조선비즈: 반도체 부족 등 공급병목 언제까지?…'70년대식 스태그플레이션’ 우려 확산

•   조선비즈: [중국 수소 야심] 현대차, 내년 中서 수소연료전지시스템 생산…“중국이 기술 따라잡는 건 당연”

•   조선비즈: 文대통령 “슬로베니아 신규 원전 사업에 한국 참여 기대”

•   연합: 오늘 1천700명 안팎…연일 '요일 최다' 기록속 전국 재확산 우려

•   연합: [포스트 스가]① 총선 앞 위기감에 '얼굴' 바꾸는 日집권당

•   연합: [포스트 스가]② 민심 반영한다지만…파벌구도 못 벗어날 듯

•   연합: [포스트 스가]③ 누가 돼도 한일관계 개선 낙관 어렵다

•   연합: 유가 상승에 덩달아 뛰는 탱커 가격…LNG선 이어 '효자' 되나

•   에너지경제: [신재생E 파헤치기] "친환경 수력 발전소, 더 이상 지을 곳이 없다"

•   디지털데일리: 삼성-현대차, '자동차 동맹' 확대…핵심은 반도체

•   디지털데일리: 벌써 들끓는 차기 아이폰 예상…펀치홀·터치ID 적용 가능성 크다

[Opinions]

•   Project Syndicate(Yuen Yuen Ang): Can Xi End China's Gilded Age?

•   Project Syndicate(Katharina Pistor): The Myth of Green Capitalism

•   Project Syndicate(Ann Pettifor): Reclaiming Central Banks

•   Project Syndicate(Nouriel Roubini): Goldilocks Is Dying

•   FT(Editorial Board): The knock-on effects of the Evergrande affair

•   FT(Editorial Board): The energy squeeze risk for Boris Johnson’s Tories

•   FT(Martin Wolf): Inequality is behind central bank dilemma

•   FT(Janan Ganesh): Biden’s French snub is a warning to Europe

•   FT(Sarah O'Connor): The hidden costs of powerful buyers and cheap prices

•   FT(Ben Hall): France hopes to salvage EU autonomy from submarine deal wreckage

•   FT(Robert Armstrong): The real risk from Evergrande

•   WSJ(Editorial Board): That Debt Limit Show

•   WSJ(William A. Galston): On China, We May Not Always Have Paris

•   NYT(Paul Krugman): Dear Joe Manchin: Coal Isn’t Your State’s Future

•   WP(Greg Sargent): Joe Manchin, Kyrsten Sinema and other centrists are to blame for jeopardizing Biden’s agenda

•   WP(Monica Gandhi): We won’t eradicate covid. The pandemic will still end.

•   WP(Robert D. Kaplan): The Biden administration just stalled China’s advance in the Indo-Pacific

•   Bloomberg(Tyler Cowen): This Little-Known Trick Will Help You Think Like an Economist

•   Bloomberg(Jonathan Bernstein): Debt Limit Stalemate Opens Cracks in the Filibuster

•   Bloomberg(Hal Brands): U.S.-U.K.-Australia Sub Deal Should Upset China, Not France

•   Bloomberg(Matt Levine): Evergrande Borrowed From Everyone