APRIL 20 — One paradox of the social distancing measures inherent in the great lockdown of the world brought about by the Covid-19 pandemic is the implosion or collapse of all economic activities for both production and consumption that involve physical contacts, while the physically fragmented...
Monday, 20 Apr 2020 03:57 PM MYT
It also calls for the government to lead the way in this unprecedented effort in order for survival to restart the economy to begin during both the movement control order and its immediate aftermath, by first addressing this economic paradox. The first part of the strategy could take the form of government incentives and assistances for businesses bold enough to retool their production systems towards a physically fragmented process to manufacture the almost-scarce essentials to protect us against the invisible virus such as face masks and personal protective equipment which are in dire shortage, given our high dependency on the import of these products.
On the second strategy of diversifying our supply chains, the issue here is not so much due to a drastic decline in aggregate demand, as was the case in all previous recessions especially the Great Depression of the 1930s.
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