The efficiency of the East Asian response to the coronavirus epidemic has been much praised by certain media outlets, particularly the response of China and South Korea. In Hong Kong, Japan, Singapore, and Taiwan, the number of infections has remained relatively low despite intensive contact with mainland China.

The media has praised ‘Asian values’, i.e., the primacy of society’s interests over those of the individual, which has enabled action against the spread of the disease.

“Ask not what your country can do for you – ask what you can do for your country”; these words of John F. …

As the outbreak of the novel coronavirus COVID-19 threatens a global pandemic, major stock markets around the world have suffered their worst performance since the 2008 financial crush.

Growth disruption

The OECD has warned that the coronavirus outbreak could halve global economic growth this year to 1.5%, the slowest rate since 2009. It has cut its 2020 growth forecast for China to a 30-year low of 4.9%, down from 5.7% in November.

The IMF downgraded its growth forecast for China to 5.6% in 2020, its lowest since 1990. Economists, polled by Reuters during 7-13 February, expected China’s economic growth to …