Success in Asia Pacific in curtailing the spread of the COVID-19 pandemic means any isolated outbreaks will have a minor economic impact, according to ANZ Chief Economist Richard Yetsenga – but the same can’t be said for other major regions around the world, including the United States and United Kingdom.
Speaking on a call with ANZ customers, Yetsenga said countries in the south-east Asian region, along with Australia and New Zealand, are generally in good shape when it comes to the pandemic, with social transmission controlled and advanced trace abilities.
“I think outbreaks during this opening-up period can be controlled through treating them as spot outbreaks, rather than needing to consider renewed shut downs, for the most part,” he said.
“In places like the US and the UK, they're closer to the tipping point of needing to potentially think about shutting down regions, cities or parts of their economies if they face - as we should expect - an increase in COVID-19 cases as they ease [restrictions].
Yetsenga led a global call into the impact of the pandemic, which also featured ANZ Senior Economist Felicity Emmett, Senior International Economist Tom Kenny and India Economist Rini Sen. You can listen to an edited version of the call below.