In China, the epicentre of the pandemic, strict containment measures were put in place in January and started to be lifted at the end of February. Several industries are almost back to producing at pre-containment levels. After dropping off sharply when many manufacturers were shut down, China’s exports to some of its East Asian neighbours have bounced back.
To explain my thinking, let me first turn to the economic recovery and how to consolidate it; and second, how shifting gears with regard to completing Economic and Monetary Union could help to improve the situation in which we currently find ourselves.