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In this podcast, Dr. Hoe Ee Khor, Chief Economist of the ASEAN+3 Macroeconomic Research Office (AMRO) discusses the key findings from its flagship report, the ASEAN+3 Regional Economic Outlook 2020 on the impact of the COVID-19 pandemic on Asia’s economic outlook and financial stability with Toronto Centre Program Director, Chui Hwei Ng. Dr Khor shares how this pandemic crisis differs from other crises that Asia has weathered in the past, and how policymakers in Asia can best respond to the challenges of the pandemic.
With governments implementing various degrees of lockdowns, telecommuting is now a key component of business continuity plans. In the ASEAN+3 region, countries that are reliant on the manufacturing and services sectors and that are not as advanced in digital technology will find it harder to sustain their economic activities.
While the online activity trend is very clear but some businesses such as airlines, tourism will be very badly hit. The pandemic will generate e-commerce, logistics and even restaurant activities. The pandemic, if continues long enough will force us to do things differently.