About This Source - Bloomberg QuickTake: Now
Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.
It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “Malaysians Are Raising White Flags in Covid-19 Lockdown” – below is their description.
More than five weeks into a nationwide lockdown and its strictest restrictions yet, Malaysia’s new virus cases hit a record, underscored by an inconsistent response to the epidemic as the focus of Prime Minister Muhyiddin Yassin’s embattled government gets clouded by constant political turmoil.
A social media campaign is prompting Malaysians in desperate need of assistance to hang white flags outside their homes, capturing the nation’s attention on how dire the situation is for some. And with Muhyiddin embroiled in yet another battle for survival, businesses are warning the economy is at breaking point and mass unemployment is a real risk.
Hans Bala, 43, is among Malaysians who has taken matters into their own hands to aid those who are struggling. He canvassed for donations from family and friends and has provided thousands of cooked meals in recent months in the capital Kuala Lumpur, where the urban poverty situation has worsened.
“We don’t need to wait until the government does something,” he said, adding that anecdotally, requests for food aid have surged in recent weeks. “I’m not in politics. I’m not going to wait for what this prime minister is going to do, or whoever is going to come in the next elections.”
Malaysia’s lockdown began on June 1 as daily cases rose by an average 7,600 in the final days of May. Millions of people were forced to stay or work from home, and leave only for essentials. Yet certain sectors were kept open, fueling criticism that the lockdown wouldn’t change anything with millions of others still out and about.
On Saturday, new infections reached a record 9,353, breaching the previous high of 9,180 reported on Friday.
That came after a week where the biggest party in Muhyiddin’s ruling coalition withdrew support for the prime minister. In January, Muhyiddin imposed a state of emergency that led parliament to be suspended, blocking his opponents from bringing a no-confidence motion against him. With cases rising, opposition parties and the monarch have pressured him to reconvene parliament before the emergency expires on Aug. 1. He finally agreed to do so on July 26 for five days to discuss the country’s Covid-19 recovery plan.
The withdrawal of support by the United Malays National Organisation will “make the current coalition considerably less stable and likely make it harder for the current coalition to tackle Covid and jump start the economy,” said Murray Hiebert, a senior associate in the Southeast Asia program at the Center for Strategic and International Studies.
Even if his government manages to survive yet another challenge to his leadership, more than a year of political turmoil due to persisting power jockeying among fluid factions in parliament has left many Malaysians in doubt, and at the worst possible time. Health workers across the country are suffering from burnout while hospitals are forced to increase capacity.
And even with hundreds of billions of ringgit in extra budgetary spending since the start of the pandemic, the concern is that not enough of the relief trickled down to those who need it the most.
“People are broadly unhappy with the government and its handling of Covid,” said Serina Abdul Rahman, a visiting fellow at ISEAS-Yusof Ishak Institute in Singapore. “They see the political maneuvering as an obsession with maintaining and grasping power, and that the government does not have the people’s interests at heart.”
Last month, the government unveiled 150 billion ringgit ($35.9 billion) in Covid aid — its fourth package this year — including cash handouts and wage subsidies. It included a cut in personal income taxes, monetary aid for businesses and breaks for first-time home buyers. Announcing the measures, Muhyiddin said the government’s remaining fiscal space was very limited.
“There have been many aid packages announced, but the help doesn’t necessarily reach the people because of the difficulties to access aid,” Serina said.Bloomberg Quicktake: Now YouTube Channel
Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.
In This Story: COVID-19
Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.
Symptoms of coronavirus
The main symptoms of coronavirus are:
- a persistent new cough (non productive, dry)
- a high temperature (e.g. head feels warm to the touch)
- shortness of breath (if this is abnormal for the individual, or increased)
Latest News about Covid-19
Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.
5 Recent Items: COVID-19
In This Story: Lockdown
During the 2020 Covid-19 epidemic, lockdown has come to mean the practice of attempting to control transmission of the virus by means of restricting people’s movement and activities on a broad scale, usually on a national or state-wide basis.
3 Recent Items: Lockdown
In This Story: Singapore
The country’s territory is composed of one main island, 63 satellite islands and islets, and one outlying islet, the combined area of which has increased by 25% since the country’s independence as a result of extensive land reclamation projects. It has the second greatest population density in the world. The country has almost 5.7 million residents, 61% (3.4 million) of whom are Singaporean citizens. There are four official languages of Singapore: English, Malay, Chinese, and Tamil; with English being the lingua franca.