There are numerous moderate effects happening, from trade to cruise ships, general racism, airlines, all kinds of stuff but so far I think nothing the west can't bounce back from or bypass. China specifically, on the other hand, is going to suffer big time, big enough that they certainly won't let on how much, but the consequences could be huge. The only way they will be able to crawl back from this is by taking extreme measures, such as cancelling their efforts towards climate change and turning up the coal, cutting down the forests etc.

Higher forced labour efforts and so forth.. who knows