G-7 Phone Hook Up, U.S. Response, China GDP Record Low: Eco Day

(Bloomberg) -- Welcome to Tuesday, Asia. Here's the latest news and analysis from Bloomberg Economics to help you start the day:

• The world's top finance ministers will lead a global teleconference on Tuesday to discuss their response to the threat posed by the coronavirus, reassuring markets that they are ready to respond
• The Trump administration is discussing a series of steps to contain the fallout from the coronavirus, including a push for the Federal Reserve to enact an emergency rate cut and a possible tax cut
• The coronavirus threatens to plunge China's economy into contraction, sending shock waves around the world. Bloomberg Economics is downgrading its forecast for growth, and anticipates larger spillovers to the region and other major economies
• Malaysia interest rate-cut bets have climbed ahead of the central bank's meeting Tuesday as it seeks to address risks from the epidemic and a shock change in government
• The coronavirus outbreak is testing the ECB's reluctance to cut interest rates deeper into negative territory, in President Christine Lagarde's first confrontation with financial markets
• The European Union will lend a sympathetic ear to Italy's plans to boost spending in response to the coronavirus
• Global manufacturing contracted in February by the most since 2009 as the coronavirus disrupted demand, trade and supply chains
• Investors expecting Norway's central bank to follow its peers and cut interest rates may be in for a surprise
• The latest skirmish between the U.S. and China culminates this week in Geneva, where members of the United Nations agency for intellectual property are set to pick a new director

To contact the reporter on this story: Alexandra Veroude in Sydney at averoude4@bloomberg.net

To contact the editors responsible for this story: Paul Jackson at pjackson53@bloomberg.net, Michael Heath

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