China-U.K. Ties, Romania Rates, Recycling Push: Eco Day

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Welcome to Wednesday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the day:

• China's Premier Li Keqiang called for deeper cooperation and communication with the U.K. to help boost relations between the two nations as political tensions simmer
• The U.S. is pressing European officials to reconsider plans to enact a new digital tax across its 27 members
• Romania is set to maintain the European Union's highest benchmark borrowing costs as the spread of Covid-19's delta variant threatens the economic recovery
• Russia completed its plan to eliminate dollar holdings in its wealth fund as part of efforts to reduce vulnerability to U.S. sanctions
• A $3 trillion increase in global gross domestic product expected in the second half of 2021 will test the “transitory” inflation view, writes Bloomberg Economics' Tom Orlik
• The Chinese government body tasked with drawing up the nation's carbon-cutting plans is trying to spur investment in recycling of everything from plastics to batteries
• With some countries in Asia starting to frame Covid-19 as a disease that needs to be managed rather than stamped out, there's hope 2021 may not be the total travel writeoff feared a few months ago
• Japanese Prime Minister Yoshihide Suga is likely to unveil another economic stimulus package worth at least $180 billion within the next few months, according to a Bloomberg survey

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