World Bank urges region to invest in expanding conventional health care and medical equipment factories. FMTNews Virus
A souvenir shop is still open for business in Nara, Japan on March 17.
These include tourism in Thailand and the Pacific Islands; manufacturing in Vietnam and Cambodia; and among people dependent on “informal labour” in all countries. “In addition to bold national actions, deeper international cooperation is the most effective vaccine against this virulent threat,” said Aaditya Mattoo, chief economist for East Asia and the Pacific at the World Bank.
The report noted that the pandemic struck just as the region was recovering from the impact of the US-China trade war. The projections are based on a baseline growth scenario, but an extended crisis could see a further deterioration in the economic situation, the bank said.
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