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The economic impact of COVID-19 and sustainable consumption modes
by 趙永祥 2020-07-20 05:19:40, 回應(0), 人氣(503)

The economic impact of the COVID-19 and sustainable consumption modes 


As the COVID-19 coronavirus rattles industries, it’s more important than ever for IT industry leaders to ensure employees have the tools they require to work remotely and securely. When traditional channels and operations are impacted by the outbreak, the value of digital channels, products and operations becomes immediately obvious. The governments in Asian Emerging Economy (AEE) should strengthen evidence to inform effective policy responses and, where requested, implementation of national strategies for inclusive development, e.g. tracking policy measures and impacts in regions through the regional economic outlooks and in countries by adjusting the multi-dimensional country and leveraging the production transformation policy reviews.

The economic impact of COVID-19 and sustainable consumption modes changing

The pandemic has so far brought immediate disruptions in economic activities across the region, as evident in the decline in tourism flows, disruption in air travels, and weakening in consumer and business confidence, as several countries imposed lockdowns, community quarantines, stay-at-home orders, temporary business closures, and travel restrictions or prohibitions to contain the virus. The enterprises, governments and policy-makers should construct increasing inuence in the marketplace to guide the region towards a sustainable consumption future. Achieving this vision, increasing inuence in the marketplace to guide the region economy, AEE towards a sustainable consumption future, requires dedicated collaboration across investors/institutionals, through innovative and inclusive business models supported by a favorable policy environment. 

Nowadays, the COVID-19 is the rst of many trials that will add uncertainty and expose the weaknesses that need to be addressed. The private sector will need to embrace stakeholder capitalism by prioritizing consumer relationships and put sustainability higher on the agenda. Second, the public sector will need to create trade and investor-friendly reforms, invest in socio-economic inclusion through talent development and upgrading infrastructure for a connected and sustainable future. These public-private partnerships are critical to unlock the full potential of AEE and to safeguard its growth story as one of the three fastest-growing consumer markets in the world.

Written by Dr. Chao Yuang Shiang (趙永祥 博士)

Faculty, Dep. of Finance, Nanhua university

 (南華大學財務金融學系暨財務管理研究所 專任助理教授)

20-July-2020