A woman wears a face mask at a market in Hong Kong on January 30. The speed and scale of epidemics, this one and others to come, make it impossible for the state to tackle the crisis alone. Photo: AP A woman wears a face mask at a market in Hong Kong on January 30. The speed and scale of epidemics, this one and others to come, make it impossible for the state to tackle the crisis alone. Photo: AP
A woman wears a face mask at a market in Hong Kong on January 30. The speed and scale of epidemics, this one and others to come, make it impossible for the state to tackle the crisis alone. Photo: AP
Andrew Sheng
Opinion

Opinion

Andrew Sheng

Societies in crisis: coronavirus epidemic underlines the need to refresh the social contract between government and the people

  • A survey of workers and consumers in 22 advanced economies sheds light on the lack of retirement protection and job security, even as income inequality rises to extreme levels. The social contract promised in an open society, alongside a free market, is broken

A woman wears a face mask at a market in Hong Kong on January 30. The speed and scale of epidemics, this one and others to come, make it impossible for the state to tackle the crisis alone. Photo: AP A woman wears a face mask at a market in Hong Kong on January 30. The speed and scale of epidemics, this one and others to come, make it impossible for the state to tackle the crisis alone. Photo: AP
A woman wears a face mask at a market in Hong Kong on January 30. The speed and scale of epidemics, this one and others to come, make it impossible for the state to tackle the crisis alone. Photo: AP
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Andrew Sheng

Andrew Sheng

Andrew Sheng is a former central banker and financial regulator, currently distinguished fellow at the Asia Global Institute, University of Hong Kong. He writes widely on Asian perspectives on global issues, with columns in Project Syndicate, Asia News Network and Caijing/Caixin magazines. His latest book is “Shadow Banking in China”, co-authored with Ng Chow Soon, published by Wiley.