- If developing nations do not receive the required doses of the vaccine, the global economy will have to bear losses of up to $9.2 trillion.
- Developed countries would also have lost a large proportion of their middle class.
- This is the same middle class that has been maintaining the richness of western countries with its hard work.
A recent news article published in the Mint by Shashi Shekhar says that vaccine nationalism could derail global recovery.
US and UK
The US and the UK booked a huge number of vaccines for themselves in a rush. According to the British Medical Journal, the US booked 800 million doses with six companies.
Along with this deal, they had provisions for a billion more doses. If you don’t know, the population of the US is about 330 million.
They have provisions for more vaccines than they need. Britain has done the same. It has made arrangements for five doses per citizen.
This trend proved to be damaging for the poverty-stricken countries of Africa as well as our own developing country.
India population
India’s population is said to be 1.35 billion, but that is an old figure. If we go by this data, to vaccinate 70% of the people, we will need as many doses as the US has made provisions for.
It’s not just about the vaccine. Patients need oxygen, hospitals and ventilators. Last week, Modi addressed the nation and assured that this process has been given utmost priority.
It would have been great if the western countries that benefit from cheap labour from our county could assist, but they are not willing to move the needle.
Looking at this situation, WHO predicts that only 37 countries will be able to achieve the vaccination goal. We might have to wait until the end of 2022.
If the 84 other poor countries reach this goal even by next year, it would be considered a win.
WHO chief Dr Tedros Adhanom Ghebreyesus
WHO chief Dr Tedros Adhanom Ghebreyesus has rightly said that if poor and middle-income countries do not get the vaccines, it will be impossible to bring the global economy back on track because the virus would continue to kill people.
That is why it is in the interest of all nations in the world to use the vaccine for the betterment of humanity.
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Source: Live Mint
