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Thu May 21, 2020, 10:13 PM

Asian century began in May 2020

Economic historians may date the start of the Asian century to May 2020, when most Asian economies bounced back to full employment while the West languished in coronavirus lockdown. Asia has emerged as an economic zone as closely integrated as the European Union, increasingly insulated from economic shocks from the United States or Europe.

Google’s daily data on workplace mobility uses smartphone location to determine the number of people going to work – by far the most accurate and up-to-date available reading on economic activity. As of May 13, Taiwan, South Korea and Vietnam were back to normal levels. Japan and Germany had climbed back to 20% below normal. The US, France and the UK remain paralyzed. Google can’t take readings in China, but the available evidence indicates that China is on the same track as Taiwan, South Korea and Vietnam.

Asian economic recovery is consistent with success in controlling the Covid-19 pandemic. China, Japan, Taiwan, South Korea, Hong Kong and Singapore have Covid-19 death rates a tenth of Germany’s and a hundredth of the rate in the US, UK, France or Spain. As I reported May 21, the US is struggling to re-open its economy despite a much higher rate of new infections than the Asian countries or Germany. That entails substantial risk. Two Ford Motor plants in the US that had re-opened May 17 shut yesterday after employees tested positive for Covid-19, for example.

Asia’s short-term surge followed its success in disease prevention. But the long-term driver of Asian growth is China’s emergence as a tech superpower. This week’s session of the People’s Congress in Beijing is expected to pass a $1.4 trillion of new government investments in 5G broadband, factory automation, self-driving cars, artificial intelligence and related fields.

https://asiatimes.com/2020/05/the-asian-century-began-in-may-2020/

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Arrow 4 replies Author Time Post
Reply Asian century began in May 2020 (Original post)
Troll2 May 21 OP
Da Mannn May 21 #1
Troll2 May 21 #2
Grumpy Pickle May 22 #3
Tovera May 22 #4

Response to Troll2 (Original post)

Thu May 21, 2020, 10:33 PM

1. Ummmm...The west is opening back up, troll.

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Response to Da Mannn (Reply #1)

Thu May 21, 2020, 11:29 PM

2. The only thing worse than a lockdown is a lockdown that didn't work.

You get all the economic pain of the lockdown, and all the public health pain and economic pain of getting to either herd immunity or a vaccine.

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Response to Troll2 (Original post)

Fri May 22, 2020, 01:53 AM

3. Maybe the Asia fuckers already have the Wuhan virus cure ....

This was a bio-weapon released by the ChiComs....period.

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Response to Troll2 (Original post)

Fri May 22, 2020, 11:11 AM

4. Very different cultural approach.

That's true of Asia in general, but I have more experience with Japan than I do the rest of Asia, and Japan's relatively easy time of it with the pandemic doesn't surprise me one bit. It's the cultural norm there to mask up if you suspect you might be sick. Japan has a very robust healthcare system. City-dwelling Japanese are already used to being careful about infection in their dense living conditions, particularly when using transit, etc.

More importantly (than any of the details), Japan has a much more deeply inculcated sense of responsibility to the community than any Western nation. Japan's far more conformist culture has its very real downsides, but it also has some significant strengths. Some of them come to the fore in situations like this

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