SINGAPORE (Mar 13): Covid-19’s impact has been brutal and sudden. The longest bull market has now suffered the fastest correction since the Great Depression.

However, investors in Singapore should take solace from a tragedy that occurred a hundred years ago. The Spanish Flu Pandemic of 1918 killed more people than World War 1. Fifty million people died, according to some accounts, which was about 3% of the world’s population then. It spread like wildfire infecting one in four humans — a total of 500 million people.

British Malaya, which included Singapore, suffered immensely. The territory was a vital source of rubber and tin for the British Empire. It was closely integrated commercially and militarily to the rest of the world.

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