As the Lunar New Year of the Rabbit dawns, the signs are positive for the post-COVID reopening of China. Here’s what our colleagues across the world believe engagement with China might look like this year:

Paul Yang, Hong Kong: In 2023, consumers in China will go back to spending but in a more careful and planned manner. For domestic as well as foreign brands, this means both opportunities and competition for consumer insights and innovation.

Daniel Bogler, Tokyo: 2023 will see a temporary thaw in China-Japan relations as a new military hotline opens between the two countries. But rising military spending by Japan—added to existing disagreements over Taiwan and the Senkaku islands—means tensions will rise again.

Brett O’Brien, Washington, DC: Chinese and U.S. policy makers will confront increasing challenges reconciling political imperatives and technological innovation and growth – with the fate of “decoupling” in the balance.

Craig Oliver, London: Diplomatic relations between the UK and China will improve. New Prime Minister Rishi Sunak doesn’t want the openly confrontational approach of his predecessor. But tensions will remain, and we are still a long way from the ‘Golden Age’ of China/UK relations of a decade ago.

William Klein, Berlin: Germany’s coalition government will finally publish its long-awaited China strategy. It’s likely to highlight growing concerns about China’s domestic and foreign policies and about the German economy’s perceived dependence on the Chinese market while also acknowledging the market’s importance for German growth and prosperity.

Biancastella de Angelis, Brussels: Reconciling the contradicting forces shaping EU-Chinese commercial ties will be key. As the EU decouples itself from Russian energy at high economic costs, European leaders are wary of risking the strong trade and investment relations with China, and European companies are exploring new opportunities for growth in China. At the same time, Chinese investments in Europe will face higher public and regulatory scrutiny, while companies will pursue new strategies to decrease their unilateral dependency on Chinese suppliers.