From Africa to Asia and Latin America, emerging countries disproportionately bruised by the COVID-19 pandemic are allowing some key industries to start back up in a bid to soften the economic blow.
Container ships wait to load and offload goods in port during a 21-day nationwide lockdown aimed at limiting the spread of coronavirus disease in Cape Town, South Africa, April 17, 2020. REUTERS/Mike Hutchings
Unlike wealthier economies, developing countries cannot afford to spend trillions of dollars protecting people and businesses from the economic fallout of the pandemic. That has prompted some to start reopening key sectors. Getting mines back to full production will take weeks, said Jacques Nel, of research firm NKC African Economics. But opening them early is essential.
Malaysia has allowed its palm oil industry — the world’s second-biggest — to operate during a six-week lockdown. Its electronics industry, which produces nearly 8% of the world’s semiconductors, is running on a third of its normal workforce. Pakistan on Tuesday extended its lockdown by two weeks but said some industries, starting with construction, would reopen in phases.
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