It has been observed that an economy’s level of digitalisation is directly relevant to their capacity to absorb the economic shock, and therefore more resilient.
Recovery is observed to pick up faster in Asia, with key factors being effective management of the spread of COVID-19, better exposure to China and favourable fiscal policy leeway to support the economy. Economies which seem to be lagging in recovery are India, Indonesia and the Philippines.
A global public health crisis brought the world to a standstill, as central banks and governments around the world went into overdrive to stop the bottom from falling out economically. Before the world has even got a grip on the pandemic and economic collision, we have geopolitical tensions looming in the horizon and coming up fast. And that’s without even mentioning oil prices! If economists are clairvoyant, now would be a good time to find out. At the very least, join us to hear what the economists from Euler Hermes have to say as we head into 2021.
Head of Economic Research
Senior Economist for Asia-Pacific