Asian countries such as China and South Korea recently reported a resurgence in coronavirus cases as their economies gradually reopen following months of social-distancing measures.
Deyi Tan, managing director and economist at Morgan Stanley, said a second wave of coronavirus outbreak — if any — will likely be more manageable as policymakers have learnt to handle such situation.
A boy waves a national flag as his dad holds him and uses a smartphone with a selfie stick to take a photo, both wearing protective masks, in front of the portrait of late communist leader Mao Zedong at Tiananmen Gate in Beijing on January 23, 2020.outbreak in Asia will not be as economically damaging as the first, said a Morgan Stanley economist as several countries like China and South Korea recently experienced an uptick in the number of cases.
"A double dip is not in our base case, we do acknowledge that as economies reopen, daily new cases will rise," Tan told CNBC'son Wednesday. A "double dip" refers to a situation in which an economy picks up following a period of decline, but weakens again after that. of the coronavirus disease — which has been formally named Covid-19 — in more than 50 days. Over in South Korea, capital city Seoul also reported recent flare-ups in infections. The two countries once had the two worst outbreaks globally before the virus spread more widely around the world.
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