Answer:

✏ Araling Panlipunan

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⇒ Question:

⟶ Question: 1.In 5 sentences, summarize the responses of ASEAN to the threats brought by CoVid-19 in the region?

⇒ Answer:

Abstract

As one of the first regions to be affected by the outbreak of the Coronavirus (COVID-19), Southeast Asia is seeing a rapid growth in the number of confirmed cases. With economic downturn caused by domestic containment measures and global disruption to trade, tourism and production, the region is now facing the prospects of a global financial shock and recession. This paper provides a summary of the socio-economic impact, challenges and policy responses employed by the ASEAN Member States to mitigate the negative effects of the pandemic.

Overview

On 30 January 2020, the World Health Organization (WHO) declared the outbreak of the novel coronavirus in the People’s Republic of China a global health emergency. Southeast Asia was one of the first regions affected due to its close geographical proximity and business travel, tourism and supply chain links to China. As of 4 May, there were 3,529,808 cases worldwide and over 49,900 cases in Southeast Asia. The number of confirmed cases are still on the rise in the region, but the rate of increase is generally slowing down. Nationwide lockdowns and enhanced community quarantine implemented in a number of countries are gradually being relaxed in some of them such as Malaysia, Thailand and Viet Nam and economic activities are starting to pick up. However, travel restrictions for foreign visitors are still enforced. Singapore and Viet Nam have implemented preventive and containment measures coping with the Covid-19 outbreak that include test, track and trace, which could provide guidance to other countries in the region and farther afield.

In early April, the Asian Development Bank (ADB) revised downward its growth forecasts for the 10 ASEAN countries from 4.4% in 2019 to 1% in 2020.1 Southeast Asian economies were already experiencing the negative effects of global trade tensions when the virus struck. The region will now face the prospects of a global shock and recession. Southeast Asian economies already impacted by supply and trade disruptions from China as well as the sharp decrease in international tourism2 are further affected by lockdown and social containment measures taken by many countries which slowed down considerably economic activities in many sectors of the economy. The SMEs, services and tourism sectors are among the most affected. Southeast Asian governments have introduced stimulus packages, mobilising both fiscal and monetary measures to mitigate the economic impact.

At the regional level, the 26th ASEAN Economic Ministers (AEM) retreat on 10 March 2020 issued a statement calling for collective action to mitigate the impact of the virus, with a particular focus on leveraging technology and digital trade, as well as trade facilitation platforms to foster supply chain connectivity and sustainability. At the Special ASEAN Summit on Covid-19 held on 14 April 2020, leaders of the ASEAN Member States issued a statement calling for a post-pandemic recovery plan and proposed establishment of the Covid-19 ASEAN Response Fund.

The OECD stands ready to leverage its Southeast Asia Regional Programme and country-specific engagement in particular with Indonesia, Thailand and Viet Nam to help mitigate the economic and social impacts of Covid-19.

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