Covid-19 in AsiaPub Date : 2021-02-25DOI: 10.1093/OSO/9780197553831.003.0025
Tan Cheng-Han, Jiangyu Wang
{"title":"Governments and Business","authors":"Tan Cheng-Han, Jiangyu Wang","doi":"10.1093/OSO/9780197553831.003.0025","DOIUrl":"https://doi.org/10.1093/OSO/9780197553831.003.0025","url":null,"abstract":"This chapter evaluates the deleterious effect of the Covid-19 pandemic on business enterprises in Asia. In these extraordinary and unprecedented circumstances, it was not surprising that governments stepped in to forestall a collapse of markets brought about by the simple fact that ordinary life had been disrupted. Beyond liquidity and stimulus measures taken by central banks that feature in many past recessions, many Asian jurisdictions saw unprecedented provision of financial support and measures to businesses and individuals to tide them over and lessen the risk of insolvency. These measures included temporary moratoriums on financial obligations and debt recovery, relief from other contractual obligations, employment support, increases to the debt thresholds for the commencement of insolvency proceedings, and infrastructure investments. These extraordinary measures, if effective, had the potential to become part of an expanded standard playbook to deal with future economic shocks, and the chapter focuses on them with particular reference to China, Hong Kong, Malaysia, and Singapore.","PeriodicalId":367804,"journal":{"name":"Covid-19 in Asia","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128456085","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Covid-19 in AsiaPub Date : 2021-01-21DOI: 10.1093/oso/9780197553831.003.0021
N. Hosen, Nurussyariah Hammado
{"title":"Indonesia’s Response to the Pandemic","authors":"N. Hosen, Nurussyariah Hammado","doi":"10.1093/oso/9780197553831.003.0021","DOIUrl":"https://doi.org/10.1093/oso/9780197553831.003.0021","url":null,"abstract":"This chapter analyzes the Jokowi government’s response to the Covid-19 pandemic and explains why it has not been capable of responding quickly to Covid-19. There were four main barriers: first, the unhealthy relationship between the Indonesian Medical Association and the recently appointed minister of health affairs; second, the political rivalry between Indonesian President Joko Widodo’s (known as Jokowi) administration and the current governor of Jakarta, the national capital of Indonesia; third, the incompetence of the Jokowi cabinet, where lack of leadership has been shown during the crisis; and finally, the conservative religious groups’ position, rejecting the request not to organize mass prayers. The combination of these four barriers contributed to the slow response and ineffectiveness of the government’s policies and regulations during the Covid-19 crisis. The response was too little, too late. The Jokowi administration was pushed into a corner, making unclear policies, uncoordinated responses, and conflicting statements.","PeriodicalId":367804,"journal":{"name":"Covid-19 in Asia","volume":"151 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131610725","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Covid-19 in AsiaPub Date : 2021-01-21DOI: 10.1093/OSO/9780197553831.003.0027
Dan Ciuriak, P. Calvert
{"title":"Asian Trade and Supply Chain Linkages","authors":"Dan Ciuriak, P. Calvert","doi":"10.1093/OSO/9780197553831.003.0027","DOIUrl":"https://doi.org/10.1093/OSO/9780197553831.003.0027","url":null,"abstract":"This chapter begins with an overview of the impact of the Covid-19 pandemic on economies of Asia generally, before turning to its impact on supply chains specifically, using the medical equipment sector as a case study to illustrate the practical complexities. It then considers the pandemic’s implications for the multilateral trade system and its impact on Asian economic integration and regionalism. The pandemic has motivated attempts to increase robustness of supply chains through diversification away from excessive dependence on China and into Southeast and South Asia, in an incremental rather than revolutionary way; no wholesale departure from manufacturing in China is anticipated. For most countries, the most efficient response is to continue to rely on international trade and global production networks, while addressing the strategic concerns through improved emergency-preparedness stockpiles. The increased pressure for reshoring, however, is part of a larger disaffection with globalization and the erosion of the rules-based international trade system.","PeriodicalId":367804,"journal":{"name":"Covid-19 in Asia","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114548041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}