News analysis

China’s long-awaited reopening will be a double-edged sword for Singapore economy

On Wednesday, the authorities in Beijing issued a 10-point plan that included additional Covid-19 easing measures. PHOTO: REUTERS
Gift this subscriber-only story to your friends and family

SINGAPORE - China’s full relaxation of Covid-19 curbs will be the most welcome event of 2023 for Asia’s export-driven economies, including Singapore.

But if Chinese consumers, armed with excess savings accumulated over the past three years, go on a shopping spree to satisfy their pent-up demand for goods and services, they could light a fire under global inflation, which has begun to show signs of peaking only in recent months.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.