Part 11/15:

A crucial debate Rajan addresses is about "waking up from the economic coma" caused by lockdowns. Countries like China and East Asian nations, which have effectively contained the virus, are contemplating reopening their economies with targeted measures. Conversely, nations like the US, India, and Brazil, where containment has been more difficult, face enormous costs from prolonged restrictions.

He emphasizes that lockdowns are not sustainable indefinitely, especially when they disproportionately impact the poor—who suffer the most from loss of income and access to basic services. Countries must develop "tailored, clever" strategies that allow for the gradual reopening of economic activities, focusing on protecting high-risk groups while enabling lower-risk populations to work safely.