Comprehensive Assessment and Ranking Report on the Response to the Covid-19 Pandemic and Economic

2020-10-17 12:22:32
Comprehensive Assessment and Ranking Report on the Response to the Covid-19 Pandemic and Economic Recovery of 108 Economies



Editor:  Yang Yanqing 

Advisor: Li Wenlong

Data compiling/processing and writing: Lin Chunjie, Ma Shaozhi, Liu Xin, Mark Kruger, Shao Yurong, Yan Fangjia, Zhang Shiming, Zhang Guoli.

The Covid-19 pandemic and the resulting economic recession have made 2020 a year to remember for the entire world, comparable to the flu pandemic in 1918 and the Great Depression from 1929 to 1933. The situation is likely to continue next year and even for years to come.

The novel coronavirus has posed unprecedented challenges to the global economy. A set of policy mix, including social distancing, quarantine, tracking and contact tracing, etc., have been phased in, although in various degree of strictness in economies that has been hit by Covid-19 to curb the spread of the virus. Policy makers also have implemented massive scale of fiscal and monetary stimulus to bail out the economy as a result of lockdown. Major economies have reopened since May before getting the virus completely under control, which has resulted in a rebound in new cases, a return to record highs and second wave make the global fight against Covid-19 even more complicated.

Covid-19 continues to spread around the world at an even more speedy rate today. Some countries are experiencing a second wave and some have never reached a turning point. Some 38,426,373, people worldwide had been infected as of 10.00 a.m. on Oct. 15(Beijing time), which translates into 51 infections for every 10,000 people.

Global economy suffered the greatest economic recession on record in the second quarter of 2020. According to the latest WEO report of IMF, world output will suffer 4.4% loss in 2020, with advanced economies and emerging market/developing economies shrinking 5.8% and 3.3% respectively. Moreover, Covid-19 has claimed 1,091,245 lives worldwide as of 10.00 a.m. on Oct. 15(Beijing time), which equals to 14 deaths for every 100,000 people. Secondary disasters from the pandemic continue to unfold and Covid-19 is bringing about fundamental changes to the whole world, what the post Covid-19 world will look like depends on the actions and reactions that policy-makers and people have chosen today.

Yicai Research Institute have compiled an assessment and ranking system jointly with Yicai Global and the Pan-Asia Research Institute of Digital Economy, using 23 detailed indicators to evaluate the performance of 108 countries in handling the Covid-19 pandemic and their economic recoveries. It is hoped that this report will shed some light on “best practices” and provide references for policy makers of the whole world in combating the Covid-19 pandemic, fostering economic recovery as well as adapting to the medium- and long-term structural changes.