WORLD Global cooperation essential for tackling COVID-19, economic recovery: expert

WORLD

Global cooperation essential for tackling COVID-19, economic recovery: expert

Xinhua

17:19, June 08, 2020

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File photo: Xinhua

Global cooperation is needed for tackling COVID-19 and further economic recovery, a New Zealand expert told Xinhua on Monday.

Stephen Jacobi, executive director of the New Zealand International Business Forum, believed that the world needs cooperation in fighting COVID-19 and even in the post-COVID-19 economic recovery, rather than political rivalry or decoupling.

Mentioning the lawsuits against China over handling COVID-19 by some countries, Jacobi argued that the battle against a global pandemic should be driven by science rather than politics.

"There will be a review of the pandemic conducted by the WHO (World Health Organization). This should be driven by science, not politics," said Jacobi.

He also believed that political rivalry and increasing tensions between the United States and China are the last things the world needs in the post-COVID-19 economic recovery.

"That does not help the economic recovery that we need to be working on," he said.

"It is true that the COVID-19 period has been so difficult for many, which has exacerbated these tensions. But let's face it (as) there is a political element in it," he said.

"The world could look quite different next year, after the U.S. election has turned out one way or another," he noted.

Although COVID-19 has caused an initial disruption and supply chain challenges, global trade has continued to flow, said Jacobi, an advocate for globalization who believed that international trade will continue to flourish after the pandemic.

"Trade has continued to flow to New Zealand's major markets, including China. The world still wants to buy New Zealand products. We will still need to look beyond our own market to build the economic recovery from COVID-19," said Jacobi.

He insisted that an open market and global solidarity are essential for the post-COVID-19 economic recovery to avoid the increasing gap between the haves and have-nots.

"At the policy level economies seem aware of the need not to repeat the mistakes of the past and to maintain an open global economy, although not everyone is on board with this," said Jacobi.

"The least developed economies will face a significant challenge meeting the cost of the pandemic. I hope the world realizes that global solidarity is important in allowing us to avoid the sorts of wealth and income disparities that have been such a problem in the past," he added.

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