It was just a matter of time before Singapore’s commitment to live with Covid-19 would be tested.
The only surprise is how quickly that moment came and how avoidable it was trib.al/uxFhm7X
Singapore announced it would tighten certain social-distancing measures to contain a cluster that started at a karaoke lounge.
The outbreak will delay reopening plans, which could be rolled back significantly if virus numbers surge trib.al/RAvrZF4
The announcement came days after restrictions eased and weeks after the government announced its intention to shift from a “Zero Covid” strategy to a “new normal.”
For risk-averse Singapore, it promised to be a significant step trib.al/RAvrZF4
The government’s instinct to do whatever it takes to curb this outbreak has merit.
Yet there’s little indication that the latest measures are informed by the government’s new guiding philosophy, even if Singapore hasn’t hit its vaccination target trib.al/RAvrZF4
Facilities aren't at the point of being overwhelmed. As of July 16, 1,000 ICU beds had been set aside for Covid patients. As of July 19:
➡️ One elderly patient is in ICU for Covid
➡️ Five cases require oxygen supplementation
➡️ 242 people are in hospital trib.al/RAvrZF4
The latest events are another example of Singapore’s impulse to micromanage its pandemic response with a curation of dos and more often don’ts.
It’s the inability to see the bigger picture that has become the country’s Achilles’ heel time and again trib.al/RAvrZF4
If Singapore wants to go back to trying to live with the virus, it must interpret the data in ways that will make its people feel safe, not fearful bloomberg.com/opinion/articl…
Singapore should focus on the figures that matter:
$700 billion is about nine times current US customs revenue, and 2.4% of the most recent estimate of US GDP.
Tariff revenue hasn’t surpassed 2% of GDP since the early 1870s, and hasn’t surpassed it on a sustained basis since the 1820s and 1830s
Trump often cites President McKinley’s high tariffs as an inspiration, but during McKinley’s presidency (1897 to 1901) tariffs generated less than half the share of GDP that $700 billion would amount to now
We *just* learned that #SVB’s downfall was announcing it was raising equity without having buyers lined up, says @matt_levine.
So why would Credit Suisse’s biggest shareholder announce they would “absolutely not” put more money into the embattled bank? trib.al/aS9oy3I
After Saudi National Bank ruled out providing more assistance, #CreditSuisse closed down 24% at 1.697 Swiss francs per share, its lowest closing price on record trib.al/nnFD2F8