The Impact of COVID-19 on Asia and the Future of Global Supply Chains

Bert Hofman

Chapter 18 in Impact of COVID-19 on Asian Economies and Policy Responses, 2021, pp 131-139 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The world economy is gradually coming out of the great lockdown. Overall, East Asian countries seem to have done better in managing the epidemic than most Western countries. The differences between East and West are so large that a data issue, which undoubtedly play a role, cannot be the full explanation (Figure 1). Some countries that, according to the Global Health Index were among the most prepared in the world, such as the US, the UK, and Sweden fared poorly compared to Asian countries. Deaths from COVID-19 per million and number of cases per million is a factor 10 to a 100 higher in Western countries than in East Asian countries. Some structural factors such as age and co-morbidities can explain some of the difference. Nevertheless, a lot seems to come down on the different approaches governments around the globe took, how fast they took action, and how rapid people changed their behavior, even before government measures made them do so…

Keywords: COVID-19; Pandemic; Coronavirus; Lockdowns; Supply Shock; Demand Shock; Financial Distress; Global Value Chain; Global Supply Chains; Public Policy; International Trade; Debt; Post-COVID-19; Liquidity Crisis; International Trade; Policy Response; Policy Uncertainty; Public Health; Big Data; Pandemic Dilemma (search for similar items in EconPapers)
JEL-codes: F02 F4 H12 I15 I18 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789811229381_0018 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789811229381_0018 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789811229381_0018

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().