Broad measures for Asia’s post-Ukraine war and Covid-19 pandemic recovery

RAISING taxes and thus revenues for governments, floating energy storages and great supply of biofuel, and managing “de-globalisation” for more equitable wealth distribution are some of the suggestions that Asian countries should pursue in the post-Ukraine War and Covid-19 recovery.

“Given recent history, I think many governments feel they need to be prepared for large shocks, and so should try to accumulate surpluses or reduce deficits in good years to make it more feasible to spend more in tougher times,” said Albert Park, Chief Economist at the Asian Development Bank.

Park was speaking at a webinar, “Can Asia deal with twin shocks of food and energy crises from the War-in-Ukraine’s fallout”, co-organised on April 11 by The Philippine Daily Inquirer, The Star Malaysia, and The Daily…