South Korea Least Vulnerable to Economic Damage from COVID-19
[Asia Economy Reporter Changhwan Lee] An analysis has revealed that South Korea is the least vulnerable to long-term economic damage caused by the novel coronavirus infection (COVID-19).
The British weekly magazine The Economist used a model from the economic analysis firm Oxford Economics on the 15th local time to forecast the extent of long-term economic damage caused by COVID-19 in various countries.
When long-term vulnerability to COVID-19 was indexed from 0 to 10, South Korea scored 3, making it the least vulnerable among the evaluated countries.
Australia, Germany, China, Sweden, the United States, Brazil, and Nigeria followed.
On average, emerging market countries are expected to suffer more economic damage in the long term compared to developed countries.
This is explained by the fact that although the growth rate decline this year is greater in developed countries, emerging market countries are more vulnerable in terms of labor markets and fiscal support.
Hot Picks Today
Taking Annual Leave and Adding "Strike" to Profiles, "It Feels Like Samsung Has Collapsed"... Unsettled Internal Atmosphere
- There Is a Distinct Age When Physical Abilities Decline Rapidly... From What Age Do Strength and Endurance Drop?
- "One Comment Could Lead to a Report": 86% of Elementary Teachers Feel Anxious; Half Consider Resignation or Career Change
- "After Vowing to Become No. 1 Globally, Sudden Policy Brake Puts Companies’ Massive Investments at Risk"
- On Teacher's Day, a Student's Gifted Cake Had to Be Cut into 32 Pieces... Why?
Among developed countries, the United Kingdom, Spain, and France are expected to take longer to recover economically compared to Australia, Sweden, and the United States. Regionally, the recovery outlook was darkest for the Middle East and South America, followed by Africa.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
