U-turn in regional business sentiment as tourists stay home

A closed Ikea store in the city of Hangzhou, in China's Zhejiang province. The Swedish furniture firm and tech giant Apple are shutting stores as part of protection measures amid the coronavirus outbreak. PHOTO: EPA-EFE
A closed Ikea store in the city of Hangzhou, in China's Zhejiang province. The Swedish furniture firm and tech giant Apple are shutting stores as part of protection measures amid the coronavirus outbreak. PHOTO: EPA-EFE
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After a year and a half of a trade war between the world's two biggest economies that choked off exports and foreign investment for the region, this was supposed to be South-east Asia's year of recovery.

A month into 2020 and that prospect is in doubt.

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A version of this article appeared in the print edition of The Straits Times on February 03, 2020, with the headline U-turn in regional business sentiment as tourists stay home. Subscribe