Australia’s embattled economy has been given a small reprieve as China’s once-quiet factories whirr back to life.
The rapid spread of the coronavirus through the country forced many manufacturing hubs to close at the start of the year, decimating expectations for the sector’s future.
But key economic indicators, such as electricity consumption and road congestion, are now pointing to a gradual recovery according to Reserve Bank deputy governor Guy Debelle.
And workers are reportedly queuing in front of major factories, hoping to find work.
Professor James Laurenceson, from the University of Technology Sydney’s Australia-China Relations Institute, said many Australian industries will benefit from the recovery in Chinese production.
“The Chinese government made some awful mistakes at the start by shutting down the free flow of information,” Professor Laurenceson told The New Daily.
“But once they admitted the extent of the problem, they do deserve some credit for getting the virus’ spread under control.
“I think we’ve probably got another one or two months in China before they’re back to their peak [manufacturing capacity].”
That spells good news for Australians as it means fewer disruptions to supply chains.
What’s good for Australia must be good for us. Good to see the Chinese are getting back to normal. Do you believe it?