World trade recovers as China comes out on top

Money spinner: Visitors crowd onto a narrow alley in Zhujiajiao Water Town on the outskirts of Shanghai. China saw 425 million domestic tourist visits in the first four days of an eight-day national holiday, with total tourism revenue hitting 312 billion yuan (about US$45.8bil), according to a report issued by Meituan Research Institute. — Bloomberg

LONDON: China is the first major economy to spring back to its feet with its exports currently being higher than ever, according to a research released on Monday.

“World trade rebounded to 94 percent of its 2019 average in July but not everybody is sharing in this recovery equally, ” said the British think tank Oxford Economics.