The prime minister, we see, has taken a first step in what we expect will be a carefully planned and managed reopening of the economy as we have been suggesting over the past two weeks.

We are not so silly as to suggest that the Government squanders the gains already made in trying to contain the spread of the novel coronavirus. But, as we pointed out in this space on Wednesday, we should not let fear dictate our actions going forward, as far more people recover from the virus than those who have died. In fact, a deeper look at the spread of this COVID-19 shows that the majority of the world’s more than seven billion people have not been affected.

That, however, does not detract from the fact that COVID-19 has had a devastating effect on the world. Indeed, all the experts agree that it will have a significant impact on how we live, work, travel, and interact with each other in the future.

Throughout history, mankind has faced many threats to its existence, and so far we have devised ways to overcome or co-exist with a majority of those threats. COVID-19 should be no different. In fact, we already have knowledge of how to prevent its spread, and observing these protocols will be vital as we await the formulation of a vaccine or drugs to treat the virus.

Until such time, however, we all have to live. And anyone who believes we should just sit back and wait out the virus needs to look at what is happening to economies across the globe.

Yesterday, news emerged that the European economy shrank a record 3.8 per cent in the first quarter. France has experienced a 5.8 per cent decline; Spain has recorded contraction of 5.2 per cent; Germany is projecting a decline of 6.3 per cent this year; while in Croatia the Government has cautioned that the economy could depreciate by nine per cent this year as COVID-19 keeps tourists away from that Mediterranean destination’s beaches and historic sites.

The United States, Jamaica’s largest tourism market, has already reported a 4.8 per cent contraction in its economy. That will certainly affect us, and indeed the rest of the Caribbean, particularly if it is allowed to worsen.

Here in Jamaica, an estimate of the damage done to the economy has not yet been made public. However, we suspect it is significant, as hundreds of thousands of people have already applied for assistance under programmes established by the Government.

It is obvious that we need to get the engine of the economy humming again, even as we keep our eye on the epidemiological concerns, because the cold, hard truth is that Jamaicans who live hand to mouth, and those who can only survive on each pay cheque, are increasingly experiencing the burdens of life without an income.

Giving the construction and fishing sectors an opportunity to resume is a commendable start to ensuing that people, particularly those in the working class, can earn in order to meet their expenses.

At the same time, businesses that have the capacity should search out new revenue streams in much the same way as Pioneer Manufacturing Distribution Company, which is now shipping its Chloro-Do bleach abroad and about which we spoke in this space yesterday, and Quality Incorporations VII Limited, which recently exported a large shipment of toilet tissue to the United States.

In the midst of adversity there is opportunity. We can only gain be seizing that opportunity with, of course, the obvious caution demanded by the current environment.