Via Goldman:
“…things could change pretty quickly, particularly against the backdrop of China’s frustrations about Australia’s decisions to ban Huawei, target China with recent foreign interference laws, and allude to China as responsible for recent cyberattacks on the Australian government.”
A “very significant” and “targeted pullback” could see Chinese tourism volume fall 60 per cent next year and education could fall 50 per cent, compared to Goldman’s “base case” for growth of 5 per cent.
