Chinese authorities appear to have given up on efforts to contain the spread of COVID-19 much earlier than we had previously anticipated. There may be some disruption to China’s industrial sector in the near term, which could have knock on effects on regional supply chains. However, the main impact for the rest of the region is likely to be felt through a reopening of China’s international border. A return of Chinese tourists could provide a big boost to growth in Hong Kong, along with major tourist destinations in South East Asia, most notably Thailand.
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