Nonetheless, firstly, we need to reset our development goal. Does this mean we need to move towards a model to degrow and deglobalise the economy? No, as a small and open developing economy, we need to continue to trade with other nations and grow economically. Added to the above, failure to prevent environmental damage will increase the risk of communities that are most vulnerable to its impacts. Paradoxically, those that benefit least from the global economy, such as daily wage earners, farmers and informal workers, are some of the most impacted. As an outcome, negative social impacts have been sorely felt, with more than 600,000 people reported to be unemployed.

However, this also leaves us exposed, with external shocks contributing to previous economic crises. As economic recovery plans are being drawn up, the question is, do we rescue our economy to how it was, or do we reset it towards a more resilient path? Malaysia, being an exceptionally open economy, has benefited greatly from globalisation.

Societies that have the ability to bounce back will likely be those that will flourish. Moving forward, resilience needs to be the imperative of development. With its economy that is heavily dependent on tourism already suffering, relief efforts were made difficult as resources were dedicated to combating Covid-19. On April 3, as Covid-19 was spreading around the world, Cyclone Harold made landfall in Vanuatu, a small island state in the middle of the Pacific Ocean.

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