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

• President-elect Joe Biden wants to reverse a decades-long trend of workers getting less of the economic pie. His best bet for achieving that could rest with a Republican: Fed Chairman Jerome Powell
• The extraordinary expansion in central banks’ balance sheets over the past decade poses a challenge to the independence of monetary policy, Bank of England Chief Economist Andy Haldane said
• A month into Australia’s $73.6 billion bond-buying program, it looks to be doing its job by driving yields lower and cooling the currency
• As OPEC+ ministers gather virtually this week, the city that traditionally hosts their meetings will be locked down. For oil ministers, the scene should urge caution
• China is making a new push to raise one of the world’s lowest retirement ages as it tries to cope with a rapidly aging population, a move that’s already fueling public discontent
• Joe Biden is turning to longtime Democratic staffer Neera Tanden to lead his Office of Management and Budget and Cecilia Rouse to head the Council of Economic Advisers. Meantime, U.S. employers probably continued to beef up their headcounts in November
• Vietnam reported its slowest inflation this year while exports rose in November even as the pandemic continues to hinder trade activity
• As Hong Kong battles a new wave of coronavirus infections with yet another round of social restrictions, a sense of fatigue with the confusing and inconsistent nature of the city’s pandemic response is setting in among business-owners and residents

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