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

  • In a battle between those who love or hate China’s economic growth target, a compromise appears to have emerged: a goal low enough to be more easily ignored
  • Central banks helped save the world economy from depression as the pandemic struck. Now they are dealing with the hard part: managing the recovery amid a difference of opinion with investors
  • Fed Chair Jerome Powell says he and his colleagues have learned a lot over the last decade about the meaning of full employment. Now, they’re looking at a new set of labor-market indicators as they chart a recovery from the steepest economic downturn on record
  • Senate Democrats passed the latest version of the $1.9 trillion stimulus bill. The plan includes a wave of new spending, an extension of jobless benefits, direct household payments, money for state and local governments and an expansion of vaccinations and virus-testing programs including a vaccine distribution program
  • Following a sluggish start, India’s Covid-19 vaccination drive has jumped nearly four-fold after the country opened it up to more people and got a crucial public endorsement from Prime Minister Narendra Modi
  • China’s exports surged in the first two months of the year, reflecting strong global demand for manufactured goods and with figures partly skewed by the low base in 2020 when the economy was in lockdown
  • A top Chinese diplomat urged the U.S. to stop “crossing lines and playing with fire” on Taiwan, as part of a broad series of warnings to President Joe Biden against meddling in Beijing’s affairs
  • Faced with low foreign-exchange reserves and looming debt repayments, Sri Lanka is borrowing from the contrarian playbook Malaysia used during the days of the Asian crisis in 1998

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