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Global financial markets are panicky over the spread of COVID-19. Global stocks from Wall Street to Asia and Europe have crashed due to the fear of the unknown.
It does not take a genius to know that the our world is changing rapidly. I lived through the tumultuous changes that happened in the 60s and 70s but nothing compares to the speed at which our life has been transformed today. I thought about this because last week I was introduced to an app-controlled mug that allowed me to set the temperature of my coffee drink! It may not catch on right this very moment but it does illustrate the point—the advances we are seeing are simply incredible.
The Philippine economy will surely feel the impact of the COVID-19, especially on tourism, but the outbreak may not make much dent on the trajectory of our growth.
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