April 20, 2021
Xi Challenges U.S. Global Leadership, Warns Against Decoupling
“Chinese President Xi Jinping called for greater global economic integration and warned against decoupling while calling on the U.S. and its allies to avoid “bossing others around.” “International affairs should be conducted by way of negotiations and discussions, and the future destiny of the world should be decided by all countries,” Xi said on Tuesday at the Boao Forum on Asia, without naming the U.S. specifically. “One or a few countries shouldn’t impose their rules on others, and the world shouldn’t be led on by the unilateralism of a few countries.” ”
U.K. Labor Market Weakens With Unexpected Drop in Payrolls
“The U.K. labor market weakened unexpectedly, with company payrolls falling for the first time in four months and more people dropping out of the workforce. The number of employees on payrolls fell 56,000 in March, the Office for National Statistics said on Tuesday. The jobless rate fell to 4.9% in the quarter through February because 80,000 people became economically inactive, indicating they stopped looking for work.”
Asia:
Bank Indonesia Holds Key Rate Steady and Cuts GDP Outlook
“Indonesia’s central bank left its benchmark interest rate unchanged, and cut its outlook for economic growth, as expanded mobility curbs limit consumption and foreign outflows pressure the currency. Bank Indonesia kept the seven-day reverse repurchase rate at a record low of 3.5% on Tuesday, as expected by all 35 economists surveyed by Bloomberg. The central bank also said it now forecasts gross domestic product to expand 4.1%-5.1% this year, down from 4.3%-5.3% previously.”
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