“Gaining a vaccine to help contain the novel coronavirus would provide a big boost to the global economy in 2021, but the initial geographic distribution of that benefit will likely depend on which vaccine candidate works first.” “A group of researchers affiliated with the Center for Global Development estimate that there is a 50% probability a vaccine safe and effective enough to be approved by a stringent regulator will be available by April 2021, with an 85% probability of that happening by the end of the year.” In the midst of the panic, governments helped fund research for a vaccine and when they did that they signed up for an early delivery for a certain number of doses which means that not everyone will be getting the vaccine at the same time. This means that some nations will see an economic impact before others. So, you may be thinking where does the United States sit? Eight of the final testing candidates are in China so “their success would be more advantageous for the world’s second-largest economy and a number of developing economies than for the U.S. and Europe.” The IMF has said that uneven access to the vaccines will hold back global economic recovery including the ones with a successful vaccine that will gain initially. Do you think people will be willing to even get the vaccine?
Wednesday, October 14, 2020
Covid-19 Vaccine Deployment Would Give Global Economy a Lift Next Year
Hannon, Paul. “Covid-19 Vaccine Deployment Would Give Global Economy a Lift Next Year.” The Wall Street Journal, Dow Jones & Company, 4 Oct. 2020, www.wsj.com/articles/covid-19-vaccine-deployment-would-give-global-economy-a-lift-next-year-11601820001.
Subscribe to:
Post Comments (Atom)
I think there will be people ready to get the vaccine as soon as possible, but then there are also people who will be worried about how fast this vaccine took to make, so it can be scary. It will also be interesting to see what countries share the vaccine with others. I feel that it is a very competitive market right now and the country with the vaccine is going to kind of in charge of the economies and how successful they are.
ReplyDeleteThe thing is, while I do believe most people will be willing to take the vaccine, I fear there will be a lot of ant vaccine people that will not and this will ruin it for everyone.
ReplyDeleteI think it goes without saying that a vaccine will boost the economy. However, there is the chance of a large number of anti-vaxxers. Additionally, there is the possibility that it won't be easily accessible to all economic classes. If only the elite can access the vaccine, that leaves the working class, which provides majority of economic activity, without the vaccine.
ReplyDeleteI think that a vaccine will significantly help the economies of large industrialized nations. With a vaccine in place, people will feel confident and safe resuming normal activities. The airline industries will come back, and cities will open up. The vaccine will decrease uncertainty which will help markets.
ReplyDeleteI definitely agree that people will feel more confident once one is released, but are we going to be able to get enough people to get it to create herd immunity? I think people's complete confidence relies on how safe they feel going back to a more normal life with traveling, going back to work, etc. It will be interesting to see how long it takes for the vaccine to get shared with everyone around the globe.
Delete