Inside the Mind of
Chang Pao-Li
Chang Pao-Li is Associate Professor of Economics and Member of the University Tribunal at Singapore Management University. She is also a Lee Kong Chian Fellow. Her research areas are GATT/WTO institution and laws, Political economy of trade agreements, Empirical analysis of trade and foreign direct investment, Quantitative analysis of trade flows and welfare evaluations, Effects of political institutions on FDI flows, Impact of education systems on human capital composition and trade patterns, Measurement of global value chain and Effects of preference and demand shocks on trade flows.
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In sum, if the shock is global in nature such as the current Covid-19 pandemic, there is really not much businesses can do to contain the negative impacts on the supply side and on the demand side. Extending a lifeline to businesses via fiscal subsidies during the economic hiatus, such that production capacities can be preserved until the world economy restarts, may be the only feasible option.