MAY 1 — The unprecedented crisis triggered by this Covid-19 virus, are in manifolds. It has been overwhelming, unexpected and perhaps unsolvable.
I believe that the decision today to lift the MCO for most businesses next week is a difficult decision that we had to make as a nation. I hope that the people will remember the lessons learned over the last 6 weeks, and not go out and act as if the worst is over. Self-discipline, social discipline and social distancing are mandatory moving forward or we can expect another wave awaiting. We all know that there isn’t a vaccine that has been rigorously tested, and proven to be working at a global level. Our individual and collective behaviour as a society will determine how soon we can rebuild our industries and economy. Looks like this super-virus is here to stay, and we have to be agile and adapt to the new normal post Covid-19. It is not going to be business as usual.
The World Bank had earlier lowered Malaysia’s GDP growth in 2020 to 0.1 per cent. It is evident that the Malaysian economy had slowed even before the Covid19 outbreak due to lower palm oil, crude oil and other commodity prices, and the impact of the US-China trade war. We all know that if we continue to further shut down most of the economic activities, coupled with weak external demands on various goods and services, we will see a sharp rise in unemployment, bankruptcies, and NPLs at the household level. We already witnessed scores of hotels announced their closing down (temporarily or permanently) over the last few days, and other businesses shutting down, people losing jobs, day wage earners not being able to put food on the table, and the list goes on.
Moving forward, we need to build economic resilience, and decide if we want to continue to be a trading nation? How hard are we willing to work, to revitalise our economy for a sustainable future, as we build inner strength internally and that would include food security, and be more self-sustainable at many fronts and sectors? How are we going to tap into the opportunities that arose when US, China and even global companies have now realised that they need to diversity their suppliers and manufacturing base even at higher costs? International travel will not be as smooth and easy as before; and that would mean that people will begin to invest closer to home instead of choosing the most cost effective location; hence how do we tap into the potential of Asean and China, for inter and intra countries investment moving forward? How are we going to transform ourselves collectively as a nation and as individuals when we recover from, or co-exist with this super virus?
The world and the face of human society that we live in today is very different from the pre- Covid19 pandemic era. Will this change force us to take a good look at national healthcare systems, insurance, value systems, importance of technology, consumption patterns, financial and economic empires?
Nations and humans had gone to war with the virus since January 2020 and the rebirth that we will soon be welcoming will give us strength and peace to rebuild. I expect more and even bigger challenges ahead of us; but I also choose to believe that we will all continue to act with empathy and kindness. For most Malaysians, next week may be seen as a second chance at life, and I trust that we will improve and change the way we think and act, be creative, and innovative. We all look forward to go back to work, and resume daily activities; of course, with a lot of caution. I hope that alongside these challenges, we will find some effects that are long lasting in a positive way for all of us mankind.
** Ng Yeen Seen is the founder and CEO of the Centre for Research, Advisory and Technology (CREATE) and #OpsHarapan.
* This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
