While the coronavirus crisis has undoubtedly ravaged nations and economies, it offers an opportunity for the world to hit the reset button and redefine the future for generations to come.
June 02, 2020 | Foo Boon Ping- Economic recovery from the pandemic hinges on finding a way to contain the disease
- Governments and central banks have put together over $9 trillion in relief and stimulus measures, dwarfing the quantitative easing programmes after the global financial crisis
- COVID-19 will have permanent, long-term effects on how economies and financial systems operate in the future
The ongoing COVID-19 pandemic has become a health crisis of unparalleled magnitude that has wreaked an enormous toll on the global economy. It has caused millions of infections and hundreds of thousands of deaths, crippling the heath care systems of many countries, shutting down businesses and sending millions out of work. For the world economy to begin recovery, there has to be first an effective end to the spread of the disease.
There may not be an early or a total end to the pandemic despite intense global efforts to develop vaccines for the virus. It is possible that a cure may not be found. We may have to learn to co-exist with it just like with other infectious disease such as the common influenza, which the disease has so insidiously been compared with. The end may not be an eradication of the disease but an effective containment of its spread through the adoption of personal hygiene practices and social distancing measures, including testing, tracing and isolating those infected.
Since its declaration as a Public Health Emergency of International Concern on 30 January by the World Health Organisation (WHO) and its later characterisation as a pandemic on 11 March, the novel coronavirus has proven to be much more virulent and deadly than initially assessed. Much about the disease remains unknown. Nevertheless, the continuing downplaying of its severity by a small group of prominent world leaders, including United States President Donald Trump, and the failure to mount a coordinated and coherent response to contain the spread of the d...
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While the coronavirus crisis has undoubtedly ravaged nations and economies, it offers an opportunity for the world to hit the reset button and redefine the future for generations to come.
June 02, 2020 | Foo Boon Ping- Economic recovery from the pandemic hinges on finding a way to contain the disease
- Governments and central banks have put together over $9 trillion in relief and stimulus measures, dwarfing the quantitative easing programmes after the global financial crisis
- COVID-19 will have permanent, long-term effects on how economies and financial systems operate in the future
The ongoing COVID-19 pandemic has become a health crisis of unparalleled magnitude that has wreaked an enormous toll on the global economy. It has caused millions of infections and hundreds of thousands of deaths, crippling the heath care systems of many countries, shutting down businesses and sending millions out of work. For the world economy to begin recovery, there has to be first an effective end to the spread of the disease.
There may not be an early or a total end to the pandemic despite intense global efforts to develop vaccines for the virus. It is possible that a cure may not be found. We may have to learn to co-exist with it just like with other infectious disease such as the common influenza, which the disease has so insidiously been compared with. The end may not be an eradication of the disease but an effective containment of its spread through the adoption of personal hygiene practices and social distancing measures, including testing, tracing and isolating those infected.
Since its declaration as a Public Health Emergency of International Concern on 30 January by the World Health Organisation (WHO) and its later characterisation as a pandemic on 11 March, the novel coronavirus has proven to be much more virulent and deadly than initially assessed. Much about the disease remains unknown. Nevertheless, the continuing downplaying of its severity by a small group of prominent world leaders, including United States President Donald Trump, and the failure to mount a coordinated and coherent response to contain the spread of the d...
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