Links 8 May 2020

Global Macro / Markets / Investing:

• An AI can simulate an economy millions of times to create fairer tax policy – Tech Review
• Uber lays off 3,700 as virus upends sharing economy – AP News
• Universal basic income seems to improve employment and wellbeing – New Scientist
• The Stock Market Is Not the Economy – Morning Star
• Inflation collapses around the world amid coronavirus pandemic – The Guardian
• Why the Covid-19 economy is devastating to millennials, in 14 charts – VOX
• Economic recovery will come with high levels of unemployment: how should governments respond? – The Conversation

Americas:

• US businesses cut 20.2 million jobs in April – Economo
• The ‘Public’ in Public College Could Be Endangered – NY Times
• Temporary Coronavirus Layoffs Are Turning Permanent Around U.S. – Bloomberg
• Millions of baby boomers are getting caught in the country’s broken retirement system – Washington Post
• US private payrolls drop by 20.2 million in April, the worst job loss in the history of ADP report – CNBC
• Fed’s James Bullard says the jobs report on Friday will be one of the worst ever – CNBC
• COVID-19 Response from an economic perspective – NY Times

Europe:

• EU predicts region will contract 7.4% this year in worst economic shock since 1930s – CNBC
• German factory orders are reporting a record decline in March – Economo
• Eurozone business activity almost stopped in April – Economo
• China’s overseas lending and the looming developing country debt crisis – VOX
• German court calls on ECB to justify bond-buying programme – FT
• The Euro needs a new treaty – Economo

Asia:

• The SEC’s China Evasion – WSJ
• China’s economy after COVID-19 – Bruegel
• Making China Pay Would Cost Americans Dearly – Foreign Policy
• China’s central bank, finance ministry clash over funding for virus recovery – SCMP
• China Is Bargain Hunting – Foreign Policy

Trans-Tasman:

• Labor calls for audit of government debt which has doubled under the Coalition – The Guardian
• NSW deputy premier spent weekend ‘on the farm’ despite telling public not to travel – The Guardian
• Penny Wong defends Kristina Keneally on Q+A over call for cut in temporary migration – The Guardian
• Chinese state-owned companies buy up water in the Murray-Darling – ABC
• Easing coronavirus restrictions depends on the uptake of the Government’s tracing app, so has your MP downloaded it? – ABC
• Labor poised to ditch big spending education and health policies – The Age
• ACCC to ensure reborn Virgin not ‘killed at birth’ – The Age
• Garnaut: Australia will lose competitive advantage if no clean energy transition – Renew Economy
• Coalition accused of dragging out legal battle to hide documents on $1.3bn arms deal – The Guardian
• Submarine builder Naval Group Australia hands out taxpayer-funded bonuses despite being behind schedule. – ABC
• NZ could move to Level 2.5 before reaching Level 2 – Interest.co.nz
• Inflation expectations skittled – hit record lows – Interest.co.nz