3 below nationally defined minimum wages (152 million of these are women), with 266 million of the figure earning below existing rates because "they are not legally covered or because of non-compliance."6 The reports recognize the widespread informality of work and lack of job security in many developing countries as among the main factors that contributed to the severity of the pandemic. Given all these gaps and vulnerabilities, the decisive role of States has once again come to the fore. In its assessment of COVID-19's impact on trade and possible steps forward, the United Nations Conference on Trade and Development (UNCTAD) emphasized the importance of State intervention, not only in terms of recovering from the damage caused by COVID-19, but also in charting new developmental and policy directions.7 Quite clearly, the UNCTAD document states that: "The COVID-19 pandemic has shown that only the State has the capacity to deal with systemic shocks and that responses cannot be left to the markets. The State must have the resources and capacities necessary to do the job properly. Strong institutions and the availability of resources are thus a prerequisite at all income levels to prepare for future shocks."8 Moving forward, it is important that states act comprehensively and decisively to mitigate shocks, and just as importantly, build social resilience to weather future emergencies and crisis situations. As was demonstrated in the experience of the Philippines, the civil society and the private sector cannot be substitutes for massive government investment, funding, and support. COVID-19 in the Philippines: Caught in the midst of multiple crises In the Philippines, the onset of the pandemic clearly exacerbated existing structural issues and inequalities. From the first announcement of widespread lockdowns that shut down transportation and entire sections of the economy, up to the passage of legislation to structure the pandemic response and the initial rollout of programs, gaps and limitations undermined the government's efforts to mitigate the damage of COVID-19. 6 International Labour Organization, Global Wage Report 2020-2021: Wages and minimum wages in the time of COVID-19, at 17, available at https://www.ilo.org/global/publications/books/WCMS_762534/lang--en/index.htm (last accessed November 3, 2022). 7 United Nations, Impact Of The Covid-19 Pandemic On Trade And Development: Lessons Learned, at 60, available at https://unctad.org/webflyer/impact-covid-19-pandemic-trade-anddevelopment-lessons-learned (last accessed November 3, 2022). 8 Id. at 60.