Finally, the month of Oct is here. The previous month was of a full swing. Global News is surfacing about a long battle between Israelis and Palestinians is on a halt which ensures that peace will prevail in the Middle East for now. Then, there is news about the struggle between Azerbaijan and Armenia surfaces; it’s painful to see such power struggles that cost innocent lives.
Anyways the life goes on, and with the firm willpower of humans, the world will restore peace. Businesses are still struggling, and the hysteria is continuing when to start a normal life. I believe that the previous normal is for now a distant future, and we all have to get ready for the new normal, which ensures personal hygiene and safe distancing to stop the spread of Coronavirus.
As economies begin to recover from the depths of the COVID-19 crisis, the risks to our baseline remain on the downside. Many of these relate to the specific pre-vaccine period we are in, when trade-offs need to managed and social and economic protections need to be maintained.
Managing the interplay between the virus and economic activity is front and center. Everyone wants to reopen as quickly and as widely as possible to get back to normal--whatever that will mean in the post-COVID-19 world. The temptation of policymakers to reopen too soon is very real. The risk is the potential for second waves of infections and possible reversals in restrictions and their negative effects on the activity as well as health outcomes. While the second waves so far are less lethal than the first waves, reflecting improvements in dealing with cases and managing the spread of the virus, reversals in openings are still a real threat. The consequence would be lost or deferred output, weaker employment, and higher fiscal deficits--both lower revenue and higher expenditures.
Maintaining the connectivity between firms, especially those under COVID-19-related stress, and their workers will be key in the coming quarters. That is where Seasia is enduring. With your full support, we are now in the growing state and soon, these dark times will be behind us.
Keep your spirits up Seasians. We are now almost at the end of this tunnel.