Prepare for an L-shaped recovery

Some may perceive Phase One of Singapore’s three-phase exit of its ‘circuit breaker’ as a mere extension, with many existing restrictions to continue.

But these restrictions are needed because we have merely averted a tsunami, wrote Professor Chia Kee Seng and PhD student Ms Ong Suan Ee in a commentary for The Straits Times.

They warned that Singaporeans must be mentally prepared not just for a second wave, but for multiple waves that may be the new normal for the foreseeable future.

If we are not careful, if we abandon our social distancing practices and heightened personal and environmental hygiene practices, we increase our risk of multiple, large subsequent waves.

As for when everything can ‘go back to normal’, the authors said that recovery from the COVID-19 pandemic would most likely resemble a wide U-shape, or even an L-shape.

An L-shaped recovery at the personal level would likely entail more telecommuting, less international travel, greater social distancing at work and public transportation, and substantial shifts away from large-scale business and social events.

Prof Chia and Ms Ong noted that these would directly impact the economy and translate to lower growth in personal income, and they emphasised the need to expand our ‘Wealth First’ mindset to a ‘Health and Wealth’ mindset.

This mindset shift should also happen at the systems level, where social, economic and health systems undergo further reforms to place equal emphasis on both health and wealth.

In preparing for an L-shaped recovery, individuals need to move beyond craving for our old way of living and longing for a definitive end to circuit breaker measures, and adopt a more proactive, positive outlook to adapt to our way of life.

As a society, lets redefine what is of value and the right balance between wealth and health. Lets not waste this crisis.

Read the full commentary here: