Despite huge impact on intl economy, trend of globalization will not end

Asian countries have excelled at the test posed by the COVID-19 pandemic, with China performing best among all, according to a report released by an international organization on Tuesday.

The ongoing pandemic is the gravest global crisis to break out after the Cold War and the first "globalized" pandemic, according to the interim report, titled The Pandemic and the Changing World, released by Boao Forum for Asia. The pandemic has already had a huge impact on the international economy, security and development, but the trend of globalization will not end due to the pandemic, the report said.

"The pandemic is still unfolding. The number of cases changes every day," Li Baodong, secretary-general of Boao Forum for Asia, said while releasing the report at an online conference. "Given the limited information currently available, our understanding of the impact of the pandemic is a work in progress."

While different regions of the world are still at distinctive stages of pandemic control, Asian countries, including China, have done a better job bringing it under control within their borders, the report said. In addition, China, Japan and South Korea have encouraged and supported each other, setting a good example of crisis collaboration for other parts of the world, it said.

After initial pneumonia cases due to unknown factors were reported at the end of 2019, China underwent a process before understanding the features, spread pathways and patterns of the novel coronavirus, but it quickly responded in January. The nation prioritized saving lives, mobilized resources around the country and implemented the most stringent measures to curb the spread of the virus, according to the report.

Two months later, China managed to bring COVID-19 under full control, winning precious time for other countries to get a better understanding of the virus and enhance their preparedness. China was also one of the first countries to share pandemic control experience and help other countries in need by sending medical teams and supplies, the report said.

The outbreak resulted in thousands of new cases a day on the Chinese mainland at its peak in mid-February. But by early March, newly reported confirmed cases were reduced to double digits on a daily basis, and it has remained in double digits or lower ever since, with most new cases consisting of people entering the country, according to health authorities.

In addition to China, most countries in Asia have managed to keep the increase of new cases at low levels. Continental Europe is now moving to resume economic activities as the situation stabilizes. In the United States, most states have made efforts to revive their economies since May even as the number of new cases continues to rise rapidly. The situation in some emerging economies and developing countries remains concerning, with ongoing outbreaks in countries such as Brazil, Russia and Peru, the report said.

"Since a cultural tradition of collectivism has long been established across Asia, the citizens demonstrated more trust in and obedience with the government. Japan, the Republic of Korea and Singapore managed to tame the pandemic in a very short period, minimizing the economic losses and social disruptions," it said.

The US, which excels in healthcare technology, has exposed vulnerabilities and deficiencies in fighting the epidemic, the report said, adding that although the first confirmed case was publicly reported in late January, the country was still unable to ensure availability of necessary nucleic acid testing of the virus as of March and the government didn't recommend wearing masks and other personal protective equipment until the number of confirmed cases topped 200,000, according to the report.

Li, secretary-general of the forum, said the COVID-19 pandemic has highlighted the lack of an effective governance mechanism for global issues.

"The pandemic also sends an unequivocal warning that humanity lives in a global village. Whether we admit it or not, we are bonded together as a community in which no country can tackle global challenges alone," he said.

Xie Chuanjiao contributed to this story.