Revitalising Asean Economies In A Post-covid-19 World: Socioeconomic Issues In The New Normal

The novel coronavirus (COVID-19) pandemic began in China in December 2019 and quickly spread to other parts of the world, including Southeast Asia. The pandemic has had a significant social and economic impact on the region, including disruptions to production, supply chains, demand, commodity prices, consumer behavior, financial markets, employment, services, transportation, and community. This book aims to assess the extent of the impact and suggest ways to mitigate it.

Format: Hardback
Length: 284 pages
Publication date: 11 June 2022
Publisher: World Scientific Publishing Co Pte Ltd

The novel coronavirus (COVID-19) pandemic, which originated in China in December 2019, swiftly spread to various parts of the world, causing significant disruption and hardship. Southeast Asia, due to its geographical proximity to China and extensive trade ties, was among the earliest regions to be affected by the pandemic. In January 2020, the virus began to spread within the Association of Southeast Asian Nations (ASEAN), leading to a rapid increase in confirmed cases across the region. In response, countries within ASEAN implemented a range of preventive and containment measures, including quarantines, lockdowns, restrictions on movement and large gatherings, and closures of schools and businesses.

However, the pandemic's impact extended beyond the immediate health crisis. ASEAN faces unprecedented social and economic challenges, which are unfolding at a historic scale. The pandemic has caused disruptions in all sectors of ASEAN's economies, leading to a decline in production, supply chains, demand, commodity prices, consumer behavior, financial markets, employment, services, transportation, and community.

To address these challenges, it is crucial to assess the extent to which the pandemic has impacted the social and economic aspects of the region. This book aims to highlight the social and economic impacts of the COVID-19 pandemic in ASEAN and propose strategies for mitigating them. It explores how the shocks from COVID-19 have affected production, supply chains, demand, commodity prices, consumer behavior, financial markets, employment, services, transportation, and community, and the various policies that ASEAN authorities should implement to alleviate the effects of the pandemic.

The pandemic has had a profound impact on ASEAN's healthcare systems, as hospitals and medical facilities have been overwhelmed with patients suffering from COVID-19. The region has experienced a shortage of medical supplies, equipment, and personnel, leading to delays in diagnosis, treatment, and recovery. In addition, the pandemic has exacerbated existing healthcare disparities, as marginalized communities and low-income individuals have been disproportionately affected by the disease.

The economic impact of the pandemic has been significant, with ASEAN's economies experiencing a sharp decline in growth and a rise in unemployment. The tourism and hospitality sectors, which are crucial to the region's economy, have been particularly hard hit, as travel restrictions and lockdowns have resulted in a significant drop in tourist arrivals and revenue. The agriculture and food industries have also been affected, as disruptions in supply chains and demand have led to price fluctuations and food insecurity.

The pandemic has also had significant social consequences, including increased stress, anxiety, and depression among individuals and communities. The isolation and confinement measures have led to social isolation and loneliness, particularly among vulnerable groups such as the elderly, the poor, and those with underlying health conditions. Additionally, the pandemic has exacerbated existing social inequalities, as marginalized communities and low-income individuals have been more likely to face job loss, food insecurity, and healthcare challenges.

To mitigate the social and economic impacts of the pandemic, ASEAN authorities have implemented a range of measures. These include providing financial support to businesses and individuals affected by the pandemic, implementing social safety nets to support vulnerable communities, and promoting digitalization and innovation to support economic recovery.

In conclusion, the COVID-19 pandemic has had a profound impact on ASEAN, causing significant disruptions in all sectors of its economies, healthcare systems, and social fabric. The region faces unprecedented social and economic challenges, which require urgent attention and action. By assessing the extent to which the pandemic has impacted the social and economic aspects of the region and implementing appropriate policies, ASEAN can work towards mitigating the effects of the pandemic and building a more resilient and sustainable future.

ISBN-13: 9789811228469