My Temporary Solutions to solve the crisis

1. Get rid of the problem of storing half the world’s oil by converting it to energy to be stored in the GRID. This will bring stability to the world’s oil markets and production can slowly resume.

2. Use bartering to trade essential food items especially farm produce which has a short shelf life rather than throwing it to the rubbish bin. Economies will be hard pressed for cash and this will ease the cashflow.

3. After lockdown your economy cannot afford to close your borders, especially transportation of goods and services. Air transportation and by train and containers must resume as quickly as possible. 

4. Air travel for passengers can slowly resume depending on your pandemic conditions especially the easing of travel restrictions on essential workers as no economy can survive and run it’s economy without it’s workers.

5. If you are quick to implement all these the impact will be minimum and it will roughly take 3 months for you to be on the path of recovery.

6. When you are a path of recovery job losses can be contained, and as many workers return to work, business will slowly return to profits, supporting SMEs with loans to tide them over and restart their business is essential as more than 80% will be affected and many will close forever, if we are able to save 50% out of the 80% that close down I am happy, as that will signal a faster recovery than a no hope recession. 

7. Huge reserves of oil I can also get rid of within 2 weeks to a month by bartering, and nobody will reject oil, so I do not expect the oil crisis to last very long. Not all types of oil can be used to convert to energy, you need to consider the price of oil and the price of energy, but one thing is for sure, oil will return to US$40 to US$50 per barrel within 1 month when excess capacity is removed.

8. Excess goods I can also use bartering to trade, what is most important I get the necessary goods and services to keep my economy running smoothly, if I am Malaysia I will use this method when the demand of palm oil drops, and trade for other things that I deem as essential.