Economic stakes are high as global gaps in COVID-19 vaccines raise concerns the continuing virus will breed dangerous variants, according to Bloomberg. Many countries are yet to begin vaccine shots even as the U.S, Britain, and the European Union have given citizens about 24 million doses so far.
Fig: Vaccine distribution
- High-income countries have secured 85% of Pfizer’s vaccine and all of Moderna Inc.’s, and now bets are on U.K.’s AstraZeneca Plc, whose vaccine is cheaper and easier to distribute.
- At least 49 higher-income countries are rolling out COVID vaccines, compared with one lowest-income nation reporting the first 25 doses.
- Analysts believe disparities in immunity threaten all global countries, giving an opportunity to generate and advance new mutants of virus.
- A rising number of countries are stepping up their own vaccine supply deals, in addition to participation in global collaboration, Covax.
- While there is no evidence showing the current vaccines are ineffective against coronavirus variants, future mutants may be less responsive.
- Vaccine advocates have called rich countries to share vaccines while pushing companies to scale up manufacturing capacity.
The World Bank projects a 4% global growth in 2021 but surging COVID-19 cases and delays of inoculations could limit expansion to only 1.6%.
