China Reopening May Add Almost 1% to Australia Economy: JPMorgan
- Australia GDP to be aided by Chinese tourism, student arrivals
- Thawing trade relations reduces risk of services export ban
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Chinese student and tourist arrivals may add nearly one percentage point to Australia’s economic output over the next two years, according to JPMorgan Chase & Co.
China’s reopening after Covid-zero “is clearly beneficial for the external accounts and gross domestic product,” with the most potential coming from the services sector, Sydney-based economist Tom Kennedy wrote in a note to clients dated Jan. 7.