A Think Tank from China, ANBOUND Research Center (Malaysia), urges the Malaysian government to focus on four Key Economic Policies.
They are industrial park, energy, welfare and open economy for its long term development in the post-pandemic era.
“Based on ANBOUND’s mathematical model analysis, the economic depression caused by the pandemic may last for two years,” it says.
It notes there is a superposition of major recession and depression in the world energy market.
As such, it expects 2021 to be the most difficult period for Malaysia.
“We expect 2021 to be Malaysia’s most difficult period in terms of economy as there may be a severe economic contraction.”
The recommendations are in the report on “Post Covid-19 Development Strategies and Options for Malaysia.”
The report is based on the fundamental judgments, assessment and conclusions of ANBOUND since January 2020.
This report analysed the current economic status of Malaysia and its competitive advantages in Asia.
It suggests a balanced geo-strategy plan that set the foundation for Malaysia’s cooperation with the World in the post-pandemic era.
The report compiled 20 short term economic measures implemented by China and the world in coping with Covid-19.
They include interest rate and tax reduction, consumption vouchers and cash subsidies, amongst others.
ANBOUND estimated that public spending to fight COVID-19 by different countries are expected to take up 10-20% of their total GDP.