Challenges of a post-virus recoveryA staff member at a pet grooming shop pampers a dog while a co-worker tends to another. However, their effectiveness will be nowhere like the recent past, such as the economic recovery after the Asian Financial Crisis in 1997-98 and the Global Financial Crisis of 2008-09, which was also driven by ongoing global economic activities. On top of the fiscal stimulus, governments around the world will need to resort to a broader range of economic policies to drive economic recovery. These conflicting challenges are exacerbated by governance issues and weak institutions, inherent among emerging economies, not to mention vested interests. For Thai firms, Covid-19 has also accelerated the need to adjust and adapt to the new normal in global-value-chain development and dynamics.
Source: Bangkok Post May 21, 2020 23:31 UTC