Experts are counselling caution. Universiti Malaya epidemiologist Datuk Dr Awang Bulgiba Awang Mahmud has warned of at least four more waves of infections from recent mass gatherings, requiring six weeks, not two, of the MCO before we can declare that the pandemic has been brought to heel.
A local observer of business trends sadly noted: “It is going to be a great recession; all commodity and asset values will diminish as there is no effective demand. We expect more companies will go bankrupt and a lot of people will be unemployed.” Our open, export-dependent economy would find little if any avenue for succour. Which is why major economies in Europe and the United States are desperately seeking ways to quickly put money in consumers’ pockets. Helicopter money, it is called.
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