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China’s world-factory status gets boost as coronavirus ravages India and other developing Asian countries

A sharp uptick in coronavirus cases in India and several Asian countries is diverting business to China, ensuring that its manufacturing engine will continue being the main driver of global trade demand, analysts said, pointing to the resilience of China’s economy and capital flows.Last year, the Asia-Pacific region outperformed amid its significantly lower infection and death rates relative to other regions. However, several domestic economic recoveries are being threatened by a combination…A sharp uptick in coronavirus cases in India and several Asian countries is diverting business to China, ensuring that its manufacturing engine will continue being the main driver of global trade demand, analysts said, pointing to the resilience of China’s economy and capital flows.Last year, the Asia-Pacific region outperformed amid its significantly lower infection and death rates relative to other regions. However, several domestic economic recoveries are being threatened by a combination…Read MoreSouth China Morning Post