Meanwhile, exports from most of Southeast Asia’s top six economies, each of whom counts China as its No. 1 trading partner, are more resilient as their shipments are dominated by essential goods and commodities including palm oil and refined petroleum products.
China’s economic growth slowdown has triggered a stark contrast in fortunes for its trading partners across Asia, with northern neighbours suffering while economies in the southeast are broadly holding up.
The world’s No. 2 economy is still dealing with a slump in consumption and output brought on by lockdowns, compounding the hit to demand from a global semiconductor slowdown.
