Bloomberg has recently updated the monthly Covid Resilience Ranking that tracks the largest 53 economies on their success at managing the Covid-19 pandemic with the least amount of social and economic disruption.
Covid-19 definitely has impacted our quality of life physically, mentally, and economically. However, the recovery is different across the world given our different approach to handle the pandemic.
So, why did Bloomberg choose only 53 economies? Bloomberg has decided that for brevity and relevance, they would limit the ranking to economies valued at more than $200 billion before the pandemic. Among the 53 economies, Malaysia is being ranked the last at 53.
Just as soon as the world managed to contain the virus, the highly transmissible mutation, the Delta-variant came in as a surprise and put the world on alert again.
This has led to several countries changing their policies and approach to curb the Covid-19 spread, in return affecting our life socially and economically again.
As for Malaysia, despite having a high vaccination rate among the population and plans to reopen the economy being delayed, the daily cases remained at all-time high. This is the same with our death rates too, which we achieved a new record yesterday (26 August).
According to Bloomberg’s latest Covid Resilience Ranking under the category filtered by the Reopening Progress, the only area that Malaysia did pretty well is “People Covered by Vaccines”, which means we are improving at getting our population vaccinated.
Meanwhile, Malaysia did badly in the rest of the areas, where our monthly cases per 100,000 people are significantly worse. However, it is worth mentioning that the deaths rates over the past 3 months and those per one million people since the start of the pandemic have improved.
Our Positive Test Rate is also better based on the percentage that comes back positive which is only 14%.
While under the Qualify of Life indices, the Covid Resilience Ranking is ranked based on the following areas:
- Community Mobility – The movement of people to offices and retail spaces compared to a pre-pandemic baseline in the past month.
- 2021 GDP Growth Forecast – Year-on-year GDP change forecast.
- Universal Healthcare Coverage – The strength of a healthcare system, derived through the efficacy of 23 aspects of health coverage ranging from preventative measures like childhood vaccines to treatment of serious illnesses like cancer.
- Human Development Index – Well-being of a population defined by three measures: life-expectancy, access to education, income per capita.
Based on the report, Malaysia is at the lower end in the Community Mobility aspect but our healthcare system and overall well-being seem to be improving.
Nonetheless, this gives us an idea of were we stand and what can we improve on.
According to the report, one of the common trait that highly ranked economies shared were they all have a widespread high degree of trust and societal compliance. Currently, those economies are Norway, Netherlands, Finland, Ireland and Austria.
New Zealand used to be in the top 3 before the Delta outbreak when they had 1 new case and locked down the entire nation, going from being the most relaxed to the strictest country in handling the pandemic. This led to them dropping 26 spots down the ranks.
Lastly, investment in public health infrastructure is an important aspect too.
Systems for contact tracing, effective testing, and health education are characteristics of countries that have performed consistently well in the Ranking.
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