China’s Covid policy hurts Asean tourism, trade

Tourism-dependent economies such as Thailand, Cambodia, and Vietnam are unlikely to be bright until China fully reopens its borders, according to Anthony Tan, deputy group head and senior economist, Asean+3 Macroeconomic Research Office (AMRO). Citing data from AMRO's Asean+3 Regional Economic Outlook, Tan noted that they expect the Asean+3's GDP to come in at 4.6% this year, a downgrade from 4.9%. The downward revision is solely attributed to China, including Hong Kong. The growth forecast has been trimmed from 5.5% to 5.2% for China, and from 3.6% to 2.8% for Hong Kong. Tan said the disruptions and lockdowns in major cities in China in response to the current wave of the pandemic have significantly affected shipping and road transport.