MANILA - Economic recovery amid the coronavirus pandemic will depend on countries working together, and responsible governments, a Hong Kong-based expert said Wednesday.
Geng Xiao, president of the Hong Kong Institution for International Finance, said that economic recovery does not depend on a country’s political system, but on how its government responds to save lives and ensure citizens’ health and livelihood, especially since there is the danger of a “second and third wave" of the fast-spreading COVID-19 "coming in the future.”
Xiao said the future is great even for countries with only basic measures against COVID-19, such as testing, contact tracing, isolation, hospitalizing those with serious conditions, and mandatory wearing of face masks. On the business front, meanwhile, China-based QFPay Founder and CEO Tim Lee projects that online businesses and cashless payment systems will become the norm after COVID-19.“Online business, online channel… will become the norm. So no matter you are offline business or you’re already online, there will be more and more money, and more or more resources will be poured over the online channel.
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