The Perils of Big COVID Government in Asia
During a large and complex crisis like the COVID-19 pandemic, government’s role naturally grows – and so do the risks of unproductive spending and abuses of power. That is why, as Asian economies seek to contain COVID-19 and its economic impacts, they must also contain their own governments.
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SEOUL – Asia is home to many exemplars of small but effective government, countries where sound policies and strong institutions underpin economic stability and robust growth. But during the COVID-19 crisis, many are pursuing expansive macroeconomic interventions and implementing measures that infringe on privacy. They are perched on the edge of a slippery slope.