TALLINN – Declining imports from China may result in a so-called supply shock, which in the Baltics may impact Estonia the hardest, Grzegorz Sielewicz, economist at the international credit insurance group Coface, said on Wednesday.
Sielewicz said that compared with the global outbreak of SARS in 2003, China is more strongly connected with the world economy now. China's share of global gross domestic product (GDP) grew from 6 percent in 2002 to 17 percent in 2019. Its share in global trade meanwhile increased from 4 percent to 11 percent during the same pe...
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