A global electronics slump is driving East Asia to the wall

China announced it was relaxing yet more of its covid-19 restrictions. The news was well received by the once roaring economies of East Asia. In recent days many have reported terrible trade data that suggest the domestic effects of China’s zero-covid policies have ricocheted across the region. A reopening, however tentative, can only help. But the reasons behind the tigers’ angst extend well beyond woes faced by their big neighbour. As the world spends less on expensive gadgets, the world’s busiest manufacturing hub is being driven to the wall. China is certainly a big factor in the sharp deceleration across the region. Asia’s largest economy is reeling from many months of disruptive pandemic-control measures and a homegrown property crisis. Data released on December 7th showed a 9% year-on-year fall in Chinese exports in November, a far steeper decline than expected by analysts.