China’s Deficit in Services Trade to Shrink on Cornoavirus

(Bloomberg) --

The coronavirus looks set to cause a sharp retrenchment in China’s tourism and spending on transportation overseas. Bloomberg Economics estimates China’s trading partners could take a hit of anywhere from $13.5 billion to $60 billion over the first three quarters of 2020. While it’s not clear how that will be spread among the countries concerned, it will be significant for economies that rely heavily on Chinese demand.

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