As the world contemplates the savage impact of the COVID-19 virus on the global economy, there’s need to seize initiative in global cooperation to escape the slump caused by the health lockdown.
International economic cooperation will be vital to managing the crisis and to supporting the recovery through trade, stabilising markets, faster reopening of business supply chains and international travel. Without it, the world is facing a prolonged health crisis and lasting economic stagnation on a scale not seen since the Great Depression.
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Peter Drysdale is emeritus professor of economics and head of the East Asian Bureau of Economic Research and East Asia Forum at the Crawford School of Public Policy at the Australian National University.
Chatib Basri is an Indonesian economist and was the nation's minister of finance in 2013-2014.
