Despite China’s strong economic recovery last quarter, goods exports to the country from elsewhere in Asia fell in Q1. A big part of the reason is that China’s rebound was driven by just three sectors: transport, retail and real estate, which are not very import intensive.
More positively, however, the scrapping of most of China’s border controls at the start of the year is providing a boost to regional tourism. International flights from China are already approaching one-third of pre-crisis levels.
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