Multimedia

WE should not have second thoughts on restarting the Philippine economy despite the spikes in Covid-19 cases. Limiting economic activities is no guarantee that the pandemic will slow down and go away. The virus is here to stay for a while until scientists discover a vaccine that will finally contain or eradicate it.

Is it possible for something so destructive to produce good?

The answer, as history would tell us, is yes. Major crises in the past created so much devastation but also provided opportunities for renewal. The 1918 Spanish Flu, for instance, made more governments realize the importance of universally accessible healthcare. The Asian financial crisis of 1997 produced financial reforms that to this day have helped economies like the Philippines achieve spectacular growth rates and stability.

The economy is showing signs of life in the early phase of its reopening. It is an encouraging sign that health authorities should appreciate while the Philippines continues its battle against the Covid-19 pandemic.