China unblocking quarantine... How will it affect our economy?

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Let's take a look at what kind of impact China's loosening the quarantine bar will have on Korea.

Reporter Kim Jung-woo will talk.

[Reporter Kim Jeong-woo: In July of last year, the IMF was a little excessive in China's containment policy.

As fears of an economic slowdown are growing, it is necessary to use an economic stimulus package.

said this.

The atmosphere is a little different from now, isn't it?

The IMF governor's remarks this time seem to have a short-term shock in mind.

In fact, major investment banks around the world will record less than 1% of economic growth in the first quarter of this year, but it will gradually improve from the second quarter.

said this.

As China locked its doors for 8 out of 12 months last year, I wonder if the situation will get better this year.]

[Reporter Kim Jeong-woo: Assuming that a short-term shock comes to China, if you look at the positive aspects, of course, a warm wind will blow in the cosmetics industry.

And since the number of Chinese tourists entering our country will increase, sales in other industries such as travel and transportation can also increase.

In particular, exports, the core engine of our economy, are expected to improve.

Last year wasn't too good.

Exports for one year decreased by 2% compared to a year ago, but this time it will increase even more.

Since China is one of Korea's largest trading partners, it can benefit more than other countries.]

[Reporter Kim Jeong-woo: What you need to pay attention to is the international oil price.

Currently, international oil prices are hovering around $80 per barrel.

When China's Corona 19 containment policy is eased and factory utilization increases, oil consumption will increase significantly.

If this happens, international oil prices can approach $ 100 per barrel.

In fact, as we import 100% of our energy, we will be able to stimulate our prices.

If this happens, of course, the current high interest rate policy can continue a little longer.

So in the end, the Chinese variable is a double-edged sword.

I'm calling it like this, but I need to see what the quarantine situation in China will be like in the future and respond.]