“Some have asked whether there’s a limit to what we can achieve.
My answer is that limit does not exist.”
Leo Varadkar, Taoiseach of Ireland
June 25, 2020
Our report this week surveys the steps toward economic recovery across the Asia-Pacific. Recent projections released by the International Monetary Fund (IMF) and Asian Development Bank (ADB) reflect the growing consensus that the economic effects of the Covid-19 pandemic will be both deeper and longer-lasting than originally hoped. They dashed a belief in some quarters that a “v-shaped” recovery would inevitably follow the sudden crashes seen earlier this year. However, the economic projections nearly uniformly predict a return to growth next year even in the markets most strongly affected by the outbreak.
A common thread across even our best-performing markets is the growing risk of second and third waves of the disease. From China to Korea, outbreaks have emerged in areas previously deemed under control, causing governments to reevaluate their pace of lifting restrictions. While the rolling eruption and suppression of local outbreaks in the United States has captured much of the global media’s attention with the unparalleled scale of the American outbreak, the same pattern is being replicated on a smaller scale across the world.
However, policy responses have evolved to reflect our growing understanding of the disease and its spread. Even in areas with surging cases, governments are reticent to reimpose economically devastating lockdowns, instead relying on social distancing measures and increased use of personal protective equipment. While some countries, like New Zealand, are strictly sticking to their positions of continued isolation, many more markets are cautiously but firmly moving to reopen the movement of goods and people internationally.
Next week, BGA will run a special report on the effects of the Covid-19 pandemic on the pharmaceutical industry in the Asia-Pacific.Questions and comments are welcome and can be directed to BGA Head of Research Murray Hiebert at email@example.com.
Director of Research, BowerGroupAsia
Excerpt from June 25 Report:
Covid-19 Recovery Across the Asia-Pacific
BGA in the News:
Will Heidlage, moderator
Webinar: Assessing China’s COVID-19 Diplomacy
June 20, 2020
A Singapore of Greater Certainty is What Businesses are Hoping for, Today
June 8, 2020
COVID-19’s Origins Maybe in Asia but its Breaking Point has been in the West, Observer Research Foundation
May 28, 2020
Murray Hiebert, COVID-19 Threatens Democracy in Southeast Asia, East Asia Forum
May 25, 2020
Prashanth Parameswaran, The Challenge of Grading Asia on COVID-19, The Diplomat
May 12, 2020
Adib Zalkalpi interview on
Perikatan Nasional’s Big Test, Channel News Asia
May 4, 2020
Ernie Bower, as quoted in
Covid-19 pandemic leads some companies to rethink China exposure, turn sights on South-east Asia, The Straits Times
May 3, 2020
Rupert Hammond-Chambers, as quoted in Taiwan Emerging From Pandemic With a Stronger Hand Against China, Bloomberg
April 29, 2020
Akshobh Giridharadas and Vaman Desai,
After COVID–19: Manufacturing India’s New Economic Potential, The Diplomat
April 29, 2020
Adib Zalkalpi, as quoted in
Coronavirus: Malaysians United in Fight, but Divided in Blame as Politics Rises Again, The Straits Times
April 21, 2020
Companies Must Act with Moral Integrity and Courage in Face of Coronavirus, Medium
April 20, 2020.
The Economic & Political Impact of the Coronavirus Could Be Devastating for the U.S., Stratnews Global
April 10, 2020
Companies Must Help Accelerate Through the Curve, The Business Times
April 7, 2020
Lockdown Musings: This is the best reflective time we have got—everyone needs to use it productively, Kathmandu Post
April 6, 2020
From a Seafood Market to Global Markets: 2020 Has Become the Year of COVID-19, Observer Research Foundation
March 17, 2020