NIKKI A.

DE DOMINGO BSIS -2B

ACTIVITY #2
The People's Republic of China's new coronavirus outbreak was deemed a global health
emergency by the World Health Organization (WHO). Southeast Asia was among the first
regions to be impacted because of its proximity to China in terms of geography, business travel,
tourism, and supply chains. There were over 49,900 cases in Southeast Asia as of May 4 and
3,529,808 cases overall. Although the number of verified cases in the area is continuously rising,
the rate of growth is generally slowing down. In some of them, like Malaysia and Thailand
nationwide lockdowns and strengthened community quarantines put in place are gradually being
loosened, and economic activity is beginning to pick up. However, there are still travel
limitations in place for foreign tourists. In order to combat the Covid-19 epidemic, Singapore and
Thailand have established preventive and containment procedures that include test, track, and
trace. These actions could serve as examples for other nations in the area and beyond afield.
When the virus arrived, the economies of Southeast Asia were already suffering from the
detrimental repercussions of international trade disputes. The prospect of a global shock and
recession will now be faced by the region. Lockdown and social containment measures
implemented by many countries have had a significant negative impact on the economies of
Southeast Asia. These measures have significantly slowed down economic activity across a wide
range of economic sectors, adding to the region's already negative effects from China's supply
and trade disruptions and the sharp decline in international tourism. SMEs, services, and the
tourist industries are some of the most severely impacted. Governments in Southeast Asia have
implemented stimulus plans, mobilizing both monetary and fiscal tools to lessen the effects on
the economy. On March 10, 2020, the 26th ASEAN Economic Ministers (AEM) retreat released
a statement asking for group efforts to lessen the effects of the virus, with an emphasis on
utilizing technology, digital trade, and trade facilitation platforms to promote supply chain
connection and sustainability. To lessen the negative economic and social effects of COVID-19,
the OECD is prepared to use its Southeast Asia Regional Programme and country-specific
involvement, particularly with Indonesia, Thailand.

Reference: https://www.oecd.org/coronavirus/policy-responses/covid-19-crisis-response-in-
asean-member-states-02f828a2/
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