Do you think this has the potential to be as bad as any of those of us?

So during my budget steam when I made the point that it's important for us not to fight a country war based on the lessons of the last war, because every crisis has similar element to other crisis.

But it also has differentiating factors which we have to take into account.

So how is this different compared to the global financial crisis that how is this similar?

What is similar is that there's been a sharp drop off confidence.

The disruption to the global economy has been significant, but they're in the global crisis.

It waas a crisis of confidence in the financial system in the banking system and as a result, off which the impact was largely through financial changers.

In this instance, we're dealing with two problems at the same time, the virus and spread a virus for which we actually well, we have some sense off how to sit in a room, my pen out.

Well, we cannot be absolutely sure that you be that weak.

And in fact, one of the things that we have to do during this crisis is to sketch out what on earth possible scenarios.

So we have of first draft off it, which we would provide more details to the public litter on based on now context with the global experts piece on our own experts.

LBs Some idea off the scenarios in which disc quickly.

Oh, from the very worst scenario to the most optimistic scenario into us central scenery.

No, in turn, how this virus outbreak, mismanaged and contained, will affect the economic scenario.

So unlike the global financial crisis, you know, have you're no dependence on the containment of the outbreak and not just a pure normal economy engine.

And of course, the other major factor is how will the U.

S.

China trade, conflict and technology conflict and the broader strategy competition be reshaped by this outbreak the virus?

Because I think I personally feel that when you are dealing with a global pandemic, you need a global response unit Global Corporation.

It cannot be that I just got myself.

You have to help one another in this effort.

So how that will work out.

How the economy will be reshaped by this will be another major factor any other.

Any other views on comparing the crisis thing, the anti global sentiments that you see prior to the crisis.

It's not gonna help, obviously so, and the global response is a bit sketchy initially.

What?

What it can be done.

I mean, in your view, to have a more coordinated global response in terms off.

Try to manage this 19 issue to give something reassurance and too, too, too, too many teas too well, I would say the global responses have to be done at by global institutions at different numbers and with four different facets of the economy.

One is that W h over data play a critical role in this and how we bring together the global resources and the global knowledge on handling a virus outbreak like this.

And that is really the key mandates off the W issue.

So I think it's very important for all of us to call bravely w issue to provide up to the information and to make sure that you know each of us do not just high bet news.

It is important to be transparent about this and we can don't make a proper assessment off how the virus is spreading or not spreading.

And in turn, how we should look at how testing facilities, for instance, can be betterthan and that there is a set off many moments responses which various countries, all countries, ought to have.

So I think that the Blue Shield has done well so far.

But I think that the global corporation is very much needed.

Not a second is that the woman central banks.

We need to also co ordinate the policies, particularly a monetary policy, and I think the monetary policy provides important civilization.

So the habit off cooperation in among global central banks have been building up since the global financial crisis.

I hope that it Stace, the recent actions have not been very positive in some areas, but I hope that we can continue that discussion and in particular the G 20 can play important role in coordinating this response, Um, and ridding the region, you know, the ASEAN among a sea and among the simplest tree we can coordinate.

Some of this responses move to the outbreak as well as to the economic situation and financial situation.

And of course, global institutions like the IMF and World Bank must play a key role in this, in particular, the World Bank has.

The IMF is important for maintaining stability and this is where we can build the informations and share our assessment off the stability of the global economy and well being as important mission off combating global poverty.

Now the virus is not going to respect boundary based honest income and therefore putting in place good measures across different countries.

And I think the World Bank, the Asian development then I can all play a role in strengthening original global responses to this outbreak.

I'm afraid we have run out of time, but there is one question DPM I must ask a lot of people want to know Yes, and how is how is thick covered 19 going to affect the election timetable?

Well, I think first and foremost at this very moment, we're very focused on they continue to operate and be managing this impact on our economy.

As I emphasize that we're looking at how we I need to save jobs and how we need to help our companies especially ascend east to go through this.

And we also looking at supporting our friend's life.

Well, yeah, you mentioned it.

In fact, many of our friendly workers having very courageous and very glad that fella Singaporeans have bean going out expressing their support for Frontline and I'll friendly work us.

The Morro remained very high.

So 18 Minister Chemo in the Mr Lawrence Ward to get a task force have done a good job in supporting our health care workers, in particular the frontline and also our workers at the various s paper, from light at our checkpoints, our ambulance facilities and so on.

So this is what we're focusing on now?

No, but the elections have be called before a protein 21.

So we cannot deviate from debt.

And what we must do is to create the conditions that will allow us to manage the situation as to the best of our ability.

And I will say that looking at the global developments, I think you virus outbreak.

It's likely to stay with us for longer.

And in fact, as I mentioned, you have so many different ways down coming across in different parts of the world.

And how this week are going to interact with the economy environments in this current economy environment.

It's really quite difficult to predict, and it is important that we have all the management attentions to deal with this, and I'm afraid of the management attention that we need to deal with.

This real gets go more challenged in the months ahead because the situation is so fluid, so dynamic, that I think we need to be able to respond as Julius became.

It's a country and its people to this very feature uncertainty in our lives, with both to our health and also to our both to our lives.

So as to our livelihood, because the way I don't know how the global economy will pan out.

So I don't want to be alarmist artist.

Uh, the best case scenario would be that you know it.

It, uh, reverts to no mercy much faster.

But I don't think we should plan on the basis off hoping for the best way need to be prepared for the worse.

And so I hope that we will have the conditions to allow us to do that.