Monday September 21, 2020

Comment: Europe and Asia have different approaches but common goals for recovery

Policymakers in both parts of the world must begin considering how to translate emergency measures into more sustainable policies to safeguard their long-term prospects

13th August, 2020
A security guard checks the body temperature of customers at an Apple store in Shanghai. Europe and Asia‘s economic response to the pandemic has varied in approach and size

Covid-19 has claimed more than 700,000 lives, infected more than 19 million people and decimated rich and poor economies alike. But even as most of the world faces unprecedented recession, policy responses differ sharply. The contrast between Europe and Asia is a case in point.

Both regions are undoubtedly facing serious economic hardship. The European Commission expects the eurozone economy – which grew by 1.3 per cent in 2019 – to contract by 8.7 per cent this year.

In the...

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