An economic report released by a consultancy firm highlighted the countries in Asia that seem to be doing well in their own battles against the coronavirus outbreak. However, the report indicated that certain countries such as the Philippines and Indonesia "appear to have given up."
The report was released by Capital Economics, a consultancy firm based in London. In the report, the firm cited the ability to control infections and the speed at which lockdown protocols are lifted as the primary factors in determining the recovery of a country.
Countries With Fast Recovery Rates
Based on these factors, Capital Economics highlighted Taiwan, Hong Kong, Thailand and China for their efforts in controlling their COVID-19 cases. Despite struggling with high numbers of confirmed cases during the first part of the year, these countries were able to implement the necessary procedures to control the spread of the virus. Through their own efforts, these countries were able to curb the number of infections within their territories, enabling them to quickly ease lockdown restrictions.
"Our economic growth forecasts assume that these two [Taiwan and Vietnam], plus China, Hong Kong and Thailand successfully eliminate the virus and that all domestic containment measures are removed in the coming months," Capital Economics stated in the report.
Losing The Fight Against COVID-19
Unfortunately, other countries in South Asia, such as the Philippines and Indonesia, are still struggling to contain the outbreak. Although these countries have already started easing quarantine and lockdown measures, the rate at which they are being lifted is still slower compared to their neighbors. As noted by the firm, actions by countries such as the Philippines reflect a slow recovery within the region. According to Capital Economics, it seems these nations have given up in their fight against the outbreak based on their slow recovery rate.
"At the other end of the spectrum are countries in South Asia as well as Indonesia and the Philippines which appear to have given up on trying to eliminate the virus," the firm stated. "While lockdowns in these countries are being eased, they are only being lifted gradually, and the high-frequency data suggest the recovery in activity is proving a lot slower in these places."