In a March 23 article in Project Syndicate, Professor Shang-Jin Wei discussed measures policymakers should take to address and recover from the current coronavirus pandemic.
In the article, titled “Beating COVID-19 and the Economic Pandemic,” Professor Wei advised countries to prepare supplies and hospital beds quickly, and to enforce social distancing as soon as there are signs of an outbreak.
Regarding economic fallout, Wei urged countries to roll out emergency programs, make good use of digital technologies, and work together on an internationally coordinated plan. Trade liberalization, not trade barriers, will help fight a pandemic-induced recession, he explained.
“The COVID-19 pandemic threatens the world with disaster. But the crisis also offers governments a rare chance to undertake policy changes that not only address the short-term public-health challenge, but also boost the global economy’s long-term growth potential,” wrote Professor Wei.
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