As parts of Europe and North America come out of lockdown, there has been plenty of debate about which countries have been tackling the pandemic in the best manner – with a particular focus on Sweden, which stands out for its more relaxed approach. But a far better comparison is with states in the Asia-Pacific, many of which had to deal with the virus earlier and have, by and large, managed to contain it far more successfully than most.
The death toll in Sweden, after all, has now passed 2,000 in a country of 10 million. In the UK, over 20,000 have died out of a population of 67 million, while the figures for the US are 55,000 out of 328 million.
Look east and the contrast is stark. There have been only 243 deaths in South Korea (population 52 million), 99 in Malaysia (population 33 million), and a mere 19 in New Zealand (population five million).
We cannot be certain how accurate any of these numbers are; the demographics, and hence the risk of fatalities, vary from country to country; and I have not mentioned infection rates. But as China announces that it has no remaining coronavirus hospital patients in Wuhan, the centre of the virus, and the city comes back to life; and as investors are reported to be "flocking" to South Korea, it is obvious that those two countries – and many of their neighbours – have been doing something right.
Taking the cases of China and South Korea is instructive, because they did not adopt the same approach: China locked down Wuhan and other cities in Hubei province in January with a brutal totality that seemed unconscionable to the outside world – until many countries followed suit. South Korea, on the other hand, may have closed schools and recommended gyms, clubs and churches do the same, but it flattened the curve, as a government publication puts it, “without enforcing draconian measures that restrict freedom and movement of people”.
Both countries, however, acted swiftly and determinedly. Wuhan was physically cut off from the outside world for 76 days. South Korea tested tens of thousands of people a day, made temperature-taking and hand-sanitising part of daily life, and used mobile technology to keep its highly connected population fully informed, right down to which shops had been visited and when by infected persons. Its citizens followed government advice on social distancing and working from home.
It is countries that have been more easy-going that are in trouble. Japan's Prime Minister Shinzo Abe did not declare a state of emergency until early-April, by which time hospitals were already overwhelmed. Myanmar and Indonesia both denied they had any cases for weeks; the worry now is that the virus may be spreading far and wide in two countries with very limited healthcare facilities.
What explains the success – so far – of the Asia-Pacific countries I mentioned earlier? In south-east and east Asia there is the memory of Sars, which broke out in China in 2002 and later spread to a total of 29 territories. In this part of the world, we are very aware of our proximity to China, so when the coronavirus emerged we knew we would be on the frontline. It is also quite normal to see people wearing masks, whether out of a heightened sense of personal hygiene or to protect against air pollution. Some have argued that east and south-east Asian populations are more likely to comply with government advice, and that may well be true in countries that tend to place the rights of the community over those of the individual.
In the US, Georgia has allowed gyms, hair salons and even tattoo parlours to open for business. But why not, when nearly 40,000 people were reported to have gone to enjoy the sea air in California last Friday?
What unites these countries with faraway New Zealand – to which the above factors do not apply – is, just as with China and South Korea, the measures taken were serious and as complete as they could be. In Malaysia, for instance, we have been under an almost total lockdown for six weeks. It is due to continue for another two, but nobody really expects the Movement Control Order to be lifted until after Eid Al Fitr. That will be nearly 10 weeks during which we cannot leave home at all, except to shop for essentials. Only one person per household is allowed to do so – police have put up roadblocks all over the capital, Kuala Lumpur, and stop any car with more than one person inside.
The order is vigorously enforced – around 20,000 people have been arrested for violations so far, and a deputy minister has been fined 1,000 Ringgit (nearly Dh850) for breaking the MCO – even private gyms and swimming pools are closed, Malaysians are not allowed to leave the country, and any returning must be quarantined in a hotel for two weeks. Life as we know it has changed utterly.
We view with bemusement, then, the half-in, half-out stance that has been taken by the authorities in the US and UK, in particular. Those two countries have taken sufficient measures to cause economic devastation and throw millions out of work, but their actions on social distancing have been so inconsistent that it makes a nonsense of the claim that it was necessary to shut down businesses.
Earlier this month, hundreds of people crammed onto a bridge in London to applaud health workers. They included the UK's police chief, Cressida Dick, whose job was to order them to disperse. She joined in instead. Around 10,000 people are still arriving in the country every day, and then wandering off, unscreened and untraced. Some underground trains were for a time packed, while joggers and cyclists continue to roam apparently unhindered.
In the US, the Governor of Georgia has allowed gyms, hair salons and even tattoo parlours to open for business. But why not, when nearly 40,000 people were reported to have gone to enjoy the sea air at Newport Beach in southern California last Friday?
Look again at the numbers of deaths I quoted above, and the lesson appears to be simple. It is summed up in a phrase most of us were taught as young children: if something is worth doing, it is worth doing properly. Yes, I would love to go for a swim, and I long to be able to join friends for satay from a roadside stall again. But I cannot, or not for a while anyway. And maybe that is why only 99 people have died from the coronavirus in Malaysia so far, as opposed to 20,000 in freedom-loving Britain.
Sholto Byrnes is a commentator and consultant in Kuala Lumpur and a corresponding fellow of the Erasmus Forum
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
The biog
Full name: Aisha Abdulqader Saeed
Age: 34
Emirate: Dubai
Favourite quote: "No one has ever become poor by giving"
Match info
Uefa Champions League Group B
Tottenham Hotspur 1 (Eriksen 80')
Inter Milan 0
Defending champions
World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack
Terminal High Altitude Area Defense (THAAD)
What is THAAD?
It is considered to be the US' most superior missile defence system.
Production:
It was first created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
THAAD is designed to take out projectiles, namely ballistic missiles, as they are on their downward trajectory towards their target, otherwise known as the "terminal phase".
Purpose:
To protect high-value strategic sites, such as airfields or population centres.
Range:
THAAD can target projectiles both inside and outside of the Earth's atmosphere, at an altitude of 93 miles above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
In 2011, the UAE became the first country outside of the US to buy two THAAD missile defence systems. It then deployed them in 2016, becoming the first Gulf country to do so.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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UAE currency: the story behind the money in your pockets
Match info
What: Fifa Club World Cup play-off
Who: Al Ain v Team Wellington
Where: Hazza bin Zayed Stadium, Al Ain
When: Wednesday, kick off 7.30pm