ECONOMY OF TOMORROW
The world beyond 2020 will usher in a post COVID-19 era, seeing new disruptive forces that changes the patterns of economic distribution. Foremost amongst these trends is the importance of the knowledge and digital economy over other traditional sectors. This has wide-ranging ramifications on skills-in-demand, how we consume, and the future of work itself. The potential for uneven distribution of growth is compounded by the fact that global economic recovery since the COVID-19 pandemic will leave many working people behind.
- Jobs and Wages
- Regional Integration
Based on a survey carried out in May 2020 at the height of the COVID-19 crisis, this report highlights the impact of COVID-19 and the ensuing lockdowns on Malaysian youth. It is clear that the youth are more vulnerable to such crisis, with different age groups of youth experiencing different difficulties. Read the full report to find out more.
Budget 2021 will need to incorporate measures to ensure the survival of the economy in the short term, while balancing this with the creation of good jobs and a stronger social safety net, to lay the foundations for a dynamic economy in the future.
Investment in green infrastructure can engender sustainable economic development and play a major role in the nation’s climate change mitigation and adaptation efforts. It also presents an opportunity through which to create safe, sustainable, and long-term jobs for Malaysians.
Government plays a key role to stabilise and jumpstart the jobs market that has been battered during the COVID-19 recession. This paper proposes counteracting measures in the form of a long-term public sector expansion. Specifically, the public health and tertiary education systems should be expanded to meet underserved demand.
Contrasting living wage requirements against median household income and wages, this paper issues a strong argument for the need for the provision of a stronger system of social protection and government’s role in putting forward policies that stimulate job and wage growth in forward-looking sectors.
Life Support for the Economy: A comparative analysis of Covid-19’s stimulus packages of Malaysia, Singapore and the United Kingdom
A comparison of stimulus packages between Malaysia, Singapore and the UK was done in this paper. Malaysia package should focus on companies and preservation of employment as per Singapore and UK packages.
Malaysia urgently needs to reassess its classification of income groups to ensure policies are relevant and targeted appropriately. A B20, M60, T20 rather than a B40, M40, T20 classification reflects the population demographic and aspirations more accurately, thereby streamlining welfare expenditures without compromising the wellbeing of the worst-off in Malaysian society…
he Economy of Tomorrow roundtable highlighted the important role of government policies in creating secure employment, improving job security and social protection for youth, as well as restructuring industries towards more productive, knowledge-intensive sectors…