What keeps businesses going is cash flow. When one could not operate for weeks or months, the business becomes unsustainable. At current Covid-19 situation the magnitude is a lot worst. To conserve cash, is to close down or cut cost.
The Virus only hit US hard recently. The impact 3.3 M unemployment. This is no joke. The impact is wide spread and will bring economy down to it’s knee and to be exact to a halt. USD being a trading currency has unlimited bullets. In fact the currency gets stronger during this period. It will be good opportunity for China to take this time to help America to help themselves.
Not surprisingly or thankfully Singapore has reserve exactly or unfortunately for such situation that can help us. Once a business collapsed, to recover will be hard, and basically “V-Shape Recovery” is impossible.
The Singapore budget proposed $48B on top of $6.4B to support the economy.