Flight restrictions, disruptions in supply chain and business operations – the COVID-19 pandemic has severely impacted Southeast Asia’s economy. Most experts now warn that in the current scenario – Singapore, Malaysia and Thailand may face a recession this year, with Indonesia and Vietnam coming extremely close to one.
In this video by CGTN, it reports that in Southeast Asia, the situation is quite grim. It reports that “DBS Bank economists have downgraded the region’s average growth forecast to a mere 0.4 percent, a considerable four from four and a half percent last year. Vietnam and Thailand would be most severely hit from the tourism perspective. In contrast Singapore and Vietnam will be relatively more badly affected from the export run.”
Watch this video to learn more.
