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Can International Economic Agreements Combat Covid‐19?, Pasha L. Hsieh
Can International Economic Agreements Combat Covid‐19?, Pasha L. Hsieh
Research Collection Yong Pung How School Of Law
The COVID-19 pandemic has significantly disrupted the international economic order. According to the World Trade Organization (WTO), the unprecedented health crisis may sink global trade by 32% in 2020.236 As an island state highly dependent on trade, Singapore is expected to encounter a 5.8% contraction in gross domestic product, marking its “worst recession since independence.”237 The number of confirmed COVID-19 cases in Singapore surpassed the 45,000 mark on July 7, 2020.238 Most cases have occurred in foreign worker dormitories, whereas the spread of the disease in the rest of the community has been limited. To gradually resume economic activities and …