CHINA GETS BACK ON TRACK
DEVELOPING ASIA IS EXPECTED TO REBOUND TO 8.5% IN 2021
As the rest of the world continues to battle the coronavirus, China has gotten back on its feet, with most of its businesses having returned to work since late February. However, global shutdowns have threatened the supply of key parts, as well as demand.
Speaking to APM, Peter Sand, Chief Analyst at BIMCO, said, "This is already clear in manufacturing data from China, where a sharp contraction in export orders mean that even as the Chinese economy returns to work, the lower demand in the rest of the world is holding back its recovery."
What does this mean for Asia and its growth?