High fashion: Luxury goods makers hope for boom as China re-opens
05 February 2023 | 7:08 am
Is the luxury sector recession-proof? Sales at high-end brands plunged at the start of the Covid-19 pandemic, but they've since rebounded sharply, even as inflation soars and economic growth slows. Now many fashion houses are hoping that China's reopening will be another boost to their business.
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With China scrapping its strict COVID restrictions, several countries have introduced mandatory testing on travelers from China. Italy is calling for EU-wide measures.
European companies in 2023 are not expected to forget Southeast Asia and return their investments to China — despite Beijing shedding its draconian "zero-COVID" restrictions.
The "overwhelming majority" of EU nations want passengers arriving from China to be tested for COVID-19. China has called new testing rules "unacceptable" after the country opens up following years of strict lockdowns.
The visit comes after Japan recently announced a massive expansion of its defense capabilities in light of China's growing clout in the Indo-Pacific region and security threats posed by North Korea.
Amid China's skyrocketing COVID case numbers, India has been preparing for a possible similar scenario. Authorities are keeping an eye on the possible emergence of new variants.
Europe has been criticized for its patchwork approach to arrivals from China amidst a spike in COVID-19 infections. Only some countries have introduced travel restrictions for Chinese arrivals.
Philippine President Ferdinand Marcos Jr. is visiting Beijing to seek better economic ties with China despite continued tension over territorial disputes in the South China Sea.
Germany's health minister said Berlin would be following an EU recommendation that member states demand travelers from China provide proof of a recent negative rapid COVID test.
China expects the total number of passenger trips made by travellers by road, rail, water and flight during the upcoming Lunar New Year to reach 2.1 billion this year, double from last year's 1.05 billion during the same period.
In China, there are fears not just of a Covid wave but maybe a tsunami. Funeral parlours are overwhelmed and hospitals are packed with elderly patients on respirators. This comes after the lifting of China's zero-Covid restrictions following protests. The World Health Organization, meanwhile, is pointing the finger, saying China's official virus data is being under-reported.
The accident occurred outside the city of Nanchang when a funeral tent, set up by mourners from the village of Taoling, was hit by a passing truck, according to local residents.
Germany's Vice Chancellor Robert Habeck has spoken forcefully about his government's efforts to rethink economic ties with China, saying "We have to diversify." Habeck spoke to DW after weeks of controversy over Germany’s approach to China.
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