Economists at JP Morgan are of the view that China’s reopening from the Covid restrictions will likely boost Australian economic growth by around 1.0%.
“China’s shift toward an earlier reopening raises the question of potential implications for the Australian economy.”
“The largest potential upside from reopening itself sits within the services sector given China is the largest consumer of Australian tourism and education exports.”
“And that a full recovery in Australia’s tourism will add 0.5% to GDP.”
“The return of international students from China will add another 0.4%.”