Fighting enemies new and old
The COVID-19 pandemic has brought war analogies to our living rooms and the whole world is now a “battlefront” with governments taking decisions on a “war footing”; and civilians going about their duties are our “brave heroes” on the “front lines” of this fight.
The rhetoric has co-opted us all as willing soldiers in this protracted struggle to save lives, secure our livelihoods, steady our businesses, revive our economies and bring back normalcy. However, the post-pandemic world will be decidedly different, a “new normal” that offers fresh opportunities and unheard-of challenges.
In our Cover Story, we try to make sense of the policy changes by various governments in the Asia-Pacific region, and explain what they mean for businesses, especially ones that operate across markets. Unprecedented policies coupled with the peculiar nature of the crisis make the way forward a tightrope walk for governments in both developed and developing economies.
Given the novel nature of the crisis, policymakers have resorted to a variety of fiscal and policy measures and, without the luxury of being able to resort to a tried and tested emergency playbook, a lot of the measures taken have been unorthodox, with long-term impacts difficult to predict.
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