Has the Shifting Trade Landscape Changed the China–ASEAN Nexus?

This issue analyzes China’s and ASEAN’s trade performance to assess (1) if their respective contributions have materially changed; and (2) China’s changing comparative advantage across sectors and how the rest of the region may be adjusting to benefit from it.

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China: Transitioning from Pandemic-Induced Downturn to Sustained High-Quality Growth

Economic activities in Brunei Darussalam have picked up since mid-2022. Thanks to high vaccination rates, daily new cases of COVID-19 have declined sharply since April 2022, enabling containment measures and border restrictions to be lifted.

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China: Sustaining Recovery and Pursuing High-Quality Growth

China has strong economic foundations to pursue and achieve high-quality growth. The country’s recovery from the 2020 downturn has stayed intact despite the slowdown in H2 2021 and H1 2022 due to COVID-19 outbreaks, headwinds in the property sector, and supply side disruptions. Against the backdrop of a resilient labor market, well-contained inflation pressures, strong external position and sound banking system, China’s economic recovery should regain momentum in H2 2022, with growth for the year coming in at about 4.8 percent.

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China: Transitioning From Economic Recovery to High-Quality Inclusive Growth

China’s economic recovery from the downturn due to the COVID-19 pandemic remains on track, and policies have been geared toward pursuing high-quality growth. In recent months, growth momentum weakened due to the moderating global economic recovery and several shocks.

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