Retailers face an unhappy New Year as China tourists tighten their belts

Hong Kong

WATCHING a lone browser in his Sydney Chinatown shop, Bing Chen is worried that business is being squeezed this Chinese New Year by what's ailing the world economy at large - the weakest Chinese economy in 25 years.

In years gone by, Mr Chen would stay open until the wee hours, selling kangaroo skins and Australian wool to crowds of Chinese tourists. But as the Year of the Monkey begins, stores like his are seeing a drop in trade with newly budget-conscious Chinese either staying home or spending less.