• Untitled, by Jandri Angelo Aguilor
    Untitled, by Jandri Angelo Aguilor
  • One UAE resident shares a photo of her son connecting with the window cleaner at their home. Instagram / @k.q1603
    One UAE resident shares a photo of her son connecting with the window cleaner at their home. Instagram / @k.q1603
  • Untitled, by Jandri Angelo Aguilor
    Untitled, by Jandri Angelo Aguilor
  • 'Though I'm not into a lot of coffee, this is my try at the Dalgona coffee, which went viral during the lockdown', by Winn Gomez
    'Though I'm not into a lot of coffee, this is my try at the Dalgona coffee, which went viral during the lockdown', by Winn Gomez
  • Ras Al Khaimah Covid-19 drive-through testing centre. Reem Mohammed / The National
    Ras Al Khaimah Covid-19 drive-through testing centre. Reem Mohammed / The National
  • 'Come to prayer, come to success (taken from the Azaan)'; a photo of Jumeirah Mosque, by Adnan Nisar
    'Come to prayer, come to success (taken from the Azaan)'; a photo of Jumeirah Mosque, by Adnan Nisar
  • 'The busiest interchange in Dubai now empty', by Haytham El Achkar
    'The busiest interchange in Dubai now empty', by Haytham El Achkar
  • A waiter waits outside his restaurant in Umm Al Quwain. Chris Whiteoak / The National
    A waiter waits outside his restaurant in Umm Al Quwain. Chris Whiteoak / The National
  • 'An empty Downtown Dubai with a lit Burj Khalifa always standing tall', by Haytham El Achkar
    'An empty Downtown Dubai with a lit Burj Khalifa always standing tall', by Haytham El Achkar
  • A photo of curd rice, by Winn Gomez. 'During the lockdown, I took my hobby indoors, trying to photograph whatever my wife cooks,' he says
    A photo of curd rice, by Winn Gomez. 'During the lockdown, I took my hobby indoors, trying to photograph whatever my wife cooks,' he says
  • Untitled, by Jandri Angelo Aguilor
    Untitled, by Jandri Angelo Aguilor
  • Artist Maitha Demithan has her work show all over Dubai to encourage people to stay at home. Chris Whiteoak / The National
    Artist Maitha Demithan has her work show all over Dubai to encourage people to stay at home. Chris Whiteoak / The National
  • 'Dubai view', by Mohamed Saquib
    'Dubai view', by Mohamed Saquib
  • Abu Dhabi Police bicycle patrol around the Mussaffah area. Victor Besa / The National
    Abu Dhabi Police bicycle patrol around the Mussaffah area. Victor Besa / The National
  • Abu Dhabi Civil Defence and Police sterilisation drive in Mussafah. Victor Besa / The National
    Abu Dhabi Civil Defence and Police sterilisation drive in Mussafah. Victor Besa / The National
  • Untitled, by Jandri Angelo Aguilor
    Untitled, by Jandri Angelo Aguilor
  • Covid-19 field hospital, set up next to the Ajman Saudi German Hospital. Antonie Robertson / The National
    Covid-19 field hospital, set up next to the Ajman Saudi German Hospital. Antonie Robertson / The National
  • 'Crossroads to nowhere', by Adnan Nisar
    'Crossroads to nowhere', by Adnan Nisar
  • Inked reopened its kitchen in Alserkal Avenue to cook meals for vulnerable communities and front-line healthcare workers. Reem Mohammed / The National
    Inked reopened its kitchen in Alserkal Avenue to cook meals for vulnerable communities and front-line healthcare workers. Reem Mohammed / The National
  • '3.331 million people, 200 nationalities, 4,114 km²... but all one people (Dubai Skyline)', by Adnan Nisar
    '3.331 million people, 200 nationalities, 4,114 km²... but all one people (Dubai Skyline)', by Adnan Nisar
  • People line up in Bur Dubai to receive an iftar pack from volunteers of the Kerala NGO Markaz. Reem Mohammed / The National
    People line up in Bur Dubai to receive an iftar pack from volunteers of the Kerala NGO Markaz. Reem Mohammed / The National
  • Purehealth Covid-19 Screening Centre along Delma Street, Abu Dhabi. Victor Besa / The National
    Purehealth Covid-19 Screening Centre along Delma Street, Abu Dhabi. Victor Besa / The National
  • 'Deserted Sheikh Zayed road with an empty interchange', by Haytham El Achkar
    'Deserted Sheikh Zayed road with an empty interchange', by Haytham El Achkar

Coronavirus: The post-lockdown world might seem scary – but it will also be full of opportunity


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As many countries around the world take tentative steps to reduce restrictions put in place to stem the Covid-19 pandemic, there is understandably some hesitation that this could lead to a second wave of infections. The prospect of losing control of the outbreak is a legitimate concern. Yet populations cannot continue to tolerate lockdowns with little respite.

We are as a result sitting somewhere between the devil and the deep blue sea, the former being the uncertainty of what an extension of the strictest measures will mean for our mental well-being and livelihoods, while the latter is the equal uncertainty of what removing them will mean in terms of the risks to our physical health from the virus. No government wants to create a scenario where healthcare systems are potentially overwhelmed as cases spike again.

The first phase of the pandemic is nonetheless drawing to a close. My thoughts these past days keep returning to the middle of January when we were in its embryonic stage. During the World Economic Forum Annual Meeting in Davos, Switzerland, concerns about an epidemic unfolding in the Chinese city of Wuhan were being discussed.

City workers use stencils to mark a bicycle and bus traffic line on a road in Saint-Malo, Brittany, France. AFP
City workers use stencils to mark a bicycle and bus traffic line on a road in Saint-Malo, Brittany, France. AFP

At a briefing on January 23, experts explained the threat we were facing and if the novel coronavirus, as it was referred to, would become more than just a problem for China. At that point, there were about 800 known infections in China and some two dozen fatalities. It really was the beginning.

Still, the perspective offered from 17 weeks ago is important for us today precisely because there was still a sense of detachment. The understandable noise and hysteria that we have been living with for too many months had not yet had a chance to build up.

In Davos, Jeremy Farrar of the health charity Wellcome Trust, and a senior UK government health adviser, discussed actions that should be taken quickly such as travel restrictions while also cautioning that such policies only “buy you time” and will not stop the epidemic “moving”.

Dr Farrar said that there was compelling evidence that this outbreak should be taken very seriously indeed and it is what he had been “frightened of for the last decade”.

“You don’t often get an animal virus coming into humans passing between humans and being spread by the respiratory route,” he said.

Gertrud Schop lights candles dedicated to Covid-19 victims in Germany. She plans to continue the project until a vaccine is available. AFP
Gertrud Schop lights candles dedicated to Covid-19 victims in Germany. She plans to continue the project until a vaccine is available. AFP

During the same briefing, Richard Hatchett, an expert on pandemic planning and response, warned that “we will have to make decisions under ambiguity and uncertainty”.

There would be a significant cost to these decisions, he said.

We are all familiar now with non-pharmaceutical interventions, such as physical distancing, isolation and curfews. Only now do we understand what the experts meant by the enormous strain they would put on us.

The potential catch-all solution of a vaccine was also part of the conversation in Davos. The steps needed to make one available had to be taken straight away, Dr Hatchett said.

The chief executive of the Coalition for Epidemic Preparedness and Innovations, or Cepi, also announced in Davos three international partnerships to develop vaccines against the coronavirus. The hope, he said, was to move them rapidly into human clinical trials by the summer.

  • A security official checks the temperature of a man at the entrance to the Viejas Casino and Resort as it reopens in Alpine, California, US. AP Photo
    A security official checks the temperature of a man at the entrance to the Viejas Casino and Resort as it reopens in Alpine, California, US. AP Photo
  • An employee cleans a shopping cart outside a store in Berkeley, California, US. Bloomberg
    An employee cleans a shopping cart outside a store in Berkeley, California, US. Bloomberg
  • A social distancing sign is displayed at the entrance to a supermarket in Paramus, New Jersey, US. Bloomberg
    A social distancing sign is displayed at the entrance to a supermarket in Paramus, New Jersey, US. Bloomberg
  • A lift operator works at a drive-through desk in a partially closed shopping mall that is preparing to fully re-open. AFP
    A lift operator works at a drive-through desk in a partially closed shopping mall that is preparing to fully re-open. AFP
  • Biologists of the Synlab laboratory work at a coronavirus testing centre. AFP
    Biologists of the Synlab laboratory work at a coronavirus testing centre. AFP
  • An employee installs plexiglass shields on check-in counters at Sarajevo International Airport in Bosnia. AFP
    An employee installs plexiglass shields on check-in counters at Sarajevo International Airport in Bosnia. AFP
  • A worker takes a call at the Florida Department of Health in Miami-Dade County, US. AP Photo
    A worker takes a call at the Florida Department of Health in Miami-Dade County, US. AP Photo
  • A technician prepares to walk into a decontamination unit in Brighton, Colorado, US. AFP
    A technician prepares to walk into a decontamination unit in Brighton, Colorado, US. AFP

Just this week, news broke that one of Cepi's collaborations – with US biotech company Moderna – had yielded positive results in its early-stage human trials.

Despite this hopeful development, we can never change that there has been a devastating cost to the world from the pandemic. Statistics such as more than 4.9 million infected, over 320,000 dead and tens of millions of jobs lost do not tell the whole story of human suffering. But more than 1.9 million have also recovered from the illness. Countless examples of selflessness and bravery have been seen in every country afflicted by the disease as our healthcare systems and social cohesion have been put to the sternest test. We are meeting that test.

When I think of what these experts said all those weeks ago in Davos, when it literally was a different world we lived in, I take the lesson that we have known all along that this is not a battle that mankind is going to lose as long as we take it as seriously as we can. For a time perhaps many nations did not. We are past that now.

Our cartoonist Shadi Ghanim's take on a world preparing to gradually emerge from the pandemic-enforced lockdown
Our cartoonist Shadi Ghanim's take on a world preparing to gradually emerge from the pandemic-enforced lockdown

This second phase of the pandemic – as we try to open up – may ultimately prove more frightening than the first phase. But compared to January, we do have a better grip on our limitations and capabilities. We now know we can come through this crisis and perhaps sooner than the worst-case scenarios suggest.

It takes a cold rationale to be able to confidently say that we can ease restrictions safely and without mistakes. No one can be 100 per cent certain of what the next few weeks and months will look like. We will have some setbacks. There is no doubt, however, that we have the ability right now to shape the future precisely because everything is being upended, redrawn and repurposed. That is an opportunity as much as a threat.

As Dr Farrar put it in Davos, to move forward, we must “live with that degree of uncertainty and not be intimidated by it”.

Mustafa Alrawi is an assistant editor-in-chief at The National

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.”

Moral education needed in a 'rapidly changing world'

Moral education lessons for young people is needed in a rapidly changing world, the head of the programme said.

Alanood Al Kaabi, head of programmes at the Education Affairs Office of the Crown Price Court - Abu Dhabi, said: "The Crown Price Court is fully behind this initiative and have already seen the curriculum succeed in empowering young people and providing them with the necessary tools to succeed in building the future of the nation at all levels.

"Moral education touches on every aspect and subject that children engage in.

"It is not just limited to science or maths but it is involved in all subjects and it is helping children to adapt to integral moral practises.

"The moral education programme has been designed to develop children holistically in a world being rapidly transformed by technology and globalisation."