(Bloomberg) -- Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

  • Australia’s center-right government is getting straight back to business after its surprise election victory, pledging to pass signature tax cuts to shore up a slowing economy
  • Prime Minister Narendra Modi is likely to triumph in India’s general elections and may even win an outright majority. Here’s a look at the deep-rooted economic challenges awaiting the new government
  • Our economists are revising down their forecasts for China’s growth for 2019 and 2020
  • The race for the European Central Bank presidency is the most wide open since the institution’s creation, and it’s far from over
  • Israel’s second interest-rate increase since 2011 is unlikely to be on the table when the monetary committee meets today after inflation decelerated for the first time this year
  • In the span of a week, President Donald Trump escalated a trade war with his biggest strategic rival, ended a steel tariff battle with the U.S.’s closest neighbors, and managed to both prolong and inflame yet another squabble among friends for at least six months
  • The trade war will continue to dominate the world economy’s headlines this week as Trump and President Xi Jinping go toe to toe

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke

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