Topic: Economy after COVID-19 - page 9. (Read 9008 times)
The economy of our country has been hit hard by the covid-19 pandemic so many jobs were lost because of the lockdown that was imposed to curb the spread of the virus.Many lost their means of livelihood and poverty was on the rise during that time.This year with low number of cases in the country and a wide vaccination campaign the economy is slowing going back to semi-normal although it will take time to recover fully.
I agree - the UN and other international structures are not able to solve the global problem of providing vaccines to all or the majority of the population today. But there are also nuances here. For example, commercial companies are not required to play "messiah" and "saviors" and do charity work. Therefore, we must proceed from this position and look for an alternative way. For example, I suppose that it would be possible to raise a fund that would pay for the development of an alternative vaccine that would become an "open project" that all pharmaceutical companies could eventually produce and sell at a minimal price all over the world. India itself has a huge potential for the production of pharmaceuticals, and could become one of the centers of mass production of a "common" vaccine, or for the whole world or a regional leader.
I agree with the suggestion and India is one of the world's leading manufacturer of different types of vaccines. There are two manufacturers in India currently who are producing vaccines against CoVID 19 (Serum Institute of India and Bharat Biotech). But here the problem is that some of their key raw products need to be sourced from the United States. And for almost two months, the United States had imposed an embargo on the export of these raw materials (lifted only a few days ago), although the American government had enough doses of vaccine to inoculate every single person in that country. Now sourcing these materials from a different country may take a few months and both the SII and Bharat Biotech struggled during this period.
I completely agree that the pharmaceutical companies need to benefit from their own invention. And the third world nations can't just ask medicines for free from these corporations. But somewhere we need a middle path.
Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.
Well.. there were requests from poorer nations, made to the pharma giants such as Pfizer and Moderna to forfeit their IP for the CoVID 19 vaccine, but these corporations refused to do so. Now I am aware of the huge investment they have put in order to develop these vaccines. So the UN or some other global body should have reached a mutually beneficial deal with both the sides, to make sure that everyone receives the vaccines on time. Right now, everyone is left to fend for themselves.
I agree - the UN and other international structures are not able to solve the global problem of providing vaccines to all or the majority of the population today. But there are also nuances here. For example, commercial companies are not required to play "messiah" and "saviors" and do charity work. Therefore, we must proceed from this position and look for an alternative way. For example, I suppose that it would be possible to raise a fund that would pay for the development of an alternative vaccine that would become an "open project" that all pharmaceutical companies could eventually produce and sell at a minimal price all over the world. India itself has a huge potential for the production of pharmaceuticals, and could become one of the centers of mass production of a "common" vaccine, or for the whole world or a regional leader.
Unfortunately, the UN is not a rich commercial organization that can buy contracts from large medical corporations and distribute them to poor countries. In this regard, the UN can only express wishes on this issue, which will not necessarily be heard in the current time of state selfishness, recall the recent withdrawal and return of the United States to the World Health Organization, which is a specialized agency of the UN. It will be possible to talk about any progress in this area only when the contracts concluded at the present time are fulfilled and then attention will be paid to the rest.
UN may not be rich, but they can help the poor nations by allowing a patent waiver on the vaccines. This will allow the poorer nations to produce vaccines at cheap rates. Pharmaceutical companies such as Pfizer and Moderna have already made huge profits from 4-5 months of vaccine sale. Why can't they make the vaccines available to all and prevent millions of deaths? And if the pandemic remains in the developing nations, the virus will mutate further into strains that are immune to the vaccine. Eventually these strains will reach the richer countries as well.
Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.
Well.. there were requests from poorer nations, made to the pharma giants such as Pfizer and Moderna to forfeit their IP for the CoVID 19 vaccine, but these corporations refused to do so. Now I am aware of the huge investment they have put in order to develop these vaccines. So the UN or some other global body should have reached a mutually beneficial deal with both the sides, to make sure that everyone receives the vaccines on time. Right now, everyone is left to fend for themselves. 
With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
Every place in every part of the world does not have the same economic status. I think to a more developed or advanced areas, online can be tolerated or I think online is already its normal way of economy. Due to that, more people around it or within it will also be normalizing online and cashless payments either in transportation or buying foods and services. But to areas like provinces, I think the new normal set-up will be like social distancing, wearing of face masks and sanitizing because online world is far from it.
With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.
Now, imagine an scenario where the cure for COVID-19 have been found while people are directly attached to the online world. The economy might never be the same as before, since people will start to value intangible items over tangible ones more thoroughly. A world where everything is digitized or "tokenized" seems to be the economy of the future. By then, each country will have its own CBDC living alongside traditional cryptocurrencies we know and love today. China might be the first country to launch a CBDC, followed by the US and several other countries. The launch of government-backed digital currencies wasn't a subject that heavily touched by world leader before the pandemic. Now that coronavirus encourages social distancing, things will accelerate quite a bit in the development of CBDCs for the whole world to use.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
That's right, in my country there is even a discourse to make currency in my country's digital currency to avoid too much risk of germs sticking to physical money, so that the government's discourse to make currency in digital is something they will consider .. if asked a conventional bank will collapse or not ?! I don't think so, because between cryptocurency and conventional banks are still very much related to each other. People will still need conventional banks to transact to exchange their coins for official money to transact in the real world. Now, imagine an scenario where the cure for COVID-19 have been found while people are directly attached to the online world. The economy might never be the same as before, since people will start to value intangible items over tangible ones more thoroughly. A world where everything is digitized or "tokenized" seems to be the economy of the future. By then, each country will have its own CBDC living alongside traditional cryptocurrencies we know and love today. China might be the first country to launch a CBDC, followed by the US and several other countries. The launch of government-backed digital currencies wasn't a subject that heavily touched by world leader before the pandemic. Now that coronavirus encourages social distancing, things will accelerate quite a bit in the development of CBDCs for the whole world to use.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.
Well.. there were requests from poorer nations, made to the pharma giants such as Pfizer and Moderna to forfeit their IP for the CoVID 19 vaccine, but these corporations refused to do so. Now I am aware of the huge investment they have put in order to develop these vaccines. So the UN or some other global body should have reached a mutually beneficial deal with both the sides, to make sure that everyone receives the vaccines on time. Right now, everyone is left to fend for themselves.
With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
Every place in every part of the world does not have the same economic status. I think to a more developed or advanced areas, online can be tolerated or I think online is already its normal way of economy. Due to that, more people around it or within it will also be normalizing online and cashless payments either in transportation or buying foods and services. But to areas like provinces, I think the new normal set-up will be like social distancing, wearing of face masks and sanitizing because online world is far from it.
In my post, I wrote essentially the same thing - to limit quarantine measures, vaccinate as much as possible, limit the movement of the unvaccinated and carriers of the virus, and no mass events! We must understand that this is a disease and we must fight it in an appropriate way!
Vaccination is the main issue now. Apart from the developed world, vaccination is progressing at snail's pace due to supply chain issues with AstraZeneca. Pfizer and Moderna are limiting their supplies to richer countries and are asking for impractical guarantees from the poorer nations to supply the vaccine. With just 1% to 2% completely vaccinated in the developed countries, it is not a good idea to restrict the freedom of movement of the unvaccinated.
Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.
China has quite a big problem though because their vaccines are not that effective
https://www.republicworld.com/world-news/china/china-covid-19-vaccines-have-low-efficacy-admits-top-centre-for-disease-control-director.html
This whole pandemic doesn't sound right to date, IMO. There are far too many grey areas that have not been discussed thoroughly and I don't understand how this epidemic works.
Take Laos, before they started jabbing people there were literally zero cases: after the vaccination started cases started to spread. What the hell?
https://www.worldometers.info/coronavirus/country/laos/
https://www.republicworld.com/world-news/china/china-covid-19-vaccines-have-low-efficacy-admits-top-centre-for-disease-control-director.html
This whole pandemic doesn't sound right to date, IMO. There are far too many grey areas that have not been discussed thoroughly and I don't understand how this epidemic works.
Take Laos, before they started jabbing people there were literally zero cases: after the vaccination started cases started to spread. What the hell?
https://www.worldometers.info/coronavirus/country/laos/
Actually, the Chinese vaccine, Sinovac, is very effective against severe COVID-19 outcomes.
The Sinovac study was to look at how the vaccine works against the entire range of clinical symptoms, from mild infections to severe ones, including death. The efficacy data of about 50% is for very mild disease, requiring no treatment. For infections requiring some medical intervention, it’s about 84% and for moderate-to-severe Covid cases, it’s 100%.
Should people take the Sinovac vaccine?
Russell: I would have no hesitation, provided it secures regulatory authority approval. For protecting people from ending up in hospitals, Sinovac’s shot looks terrific as the efficacy data for preventing hospitalization and death is 100%.
Russell: I would have no hesitation, provided it secures regulatory authority approval. For protecting people from ending up in hospitals, Sinovac’s shot looks terrific as the efficacy data for preventing hospitalization and death is 100%.
And that's what counts the most: you are guaranteed to recover without medical intervention. So, when talking about "ineffectiveness" of the Chinese vaccine we must keep in mind that this info is rather formal than substantial. It is meaningful for medical specialists, no doubt about that, but for us, regular folks, Sinovac, along with the other approved vaccines, is a lifesaver.
With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.
Every place in every part of the world does not have the same economic status. I think to a more developed or advanced areas, online can be tolerated or I think online is already its normal way of economy. Due to that, more people around it or within it will also be normalizing online and cashless payments either in transportation or buying foods and services. But to areas like provinces, I think the new normal set-up will be like social distancing, wearing of face masks and sanitizing because online world is far from it.
If the government takes proper measures then it is possible to develop the underdeveloped country adequate investment in the health sector is crucial in the current situation through this it will be possible to control the virus infection to some extent .The government needs to mobilize greater funding and multilateral efforts through global cooperation and coordination to ensure that affordable vaccines and treatments are delivered quickly wherever they are needed.
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They were prepared but it seems like their people out there were not too disciplined. In US for example, they even fight for their rights to NOT to wear a mask in public due to uncomfortable feeling. Other is that their government was slow. Slow in terms of implementing lockdowns and efficiently conduct one unlike China where they really impose lockdowns using brute force but with support of course. And the reason why this pandemic will not end this year but will continue up to another year again because supply isn't enough and the virus keeps updating as well. The new variants can be more contagious than the previous and if people keep gathering on events because of the mass gatherings and cultural events.
When we all are going to be used to these lockdowns and online transactions, the new generations are also going to just adopt easily to online deals. Economies are going to run this way from now on.
We will see how the situation will develop in the summer months, because there have been studies that the coronavirus is unstable to ultraviolet light, although of course without universal vaccination it is useless to talk about the victory over the pandemic. Another question is that locally some countries can cope with the coronavirus, but not on a global scale. Many vaccines have already appeared, and it seems that some of them are coping well with the mutated coronavirus, and as for the rest, one vaccine developer said that it is quite easy to adapt the vaccine to other strains, although of course it takes time. When we all are going to be used to these lockdowns and online transactions, the new generations are also going to just adopt easily to online deals. Economies are going to run this way from now on.
In my post, I wrote essentially the same thing - to limit quarantine measures, vaccinate as much as possible, limit the movement of the unvaccinated and carriers of the virus, and no mass events! We must understand that this is a disease and we must fight it in an appropriate way!
Vaccination is the main issue now. Apart from the developed world, vaccination is progressing at snail's pace due to supply chain issues with AstraZeneca. Pfizer and Moderna are limiting their supplies to richer countries and are asking for impractical guarantees from the poorer nations to supply the vaccine. With just 1% to 2% completely vaccinated in the developed countries, it is not a good idea to restrict the freedom of movement of the unvaccinated.
The problem that occurs in vaccination lies not only in the supply chain but also the effectiveness of the vaccine still needs to be evaluated. Many of the vaccination volunteers in my country experience unusual symptoms after being injected. The vaccine used is the synovac type and until now vaccinations are being carried out but the cases of the spread of Covid are still very high in my country. I also still doubt the vaccine in circulation because this is the fastest vaccine in history. I hope that soon there will be a real solution to this pandemic case.
It seems that one big country is profiting a lot from the vaccination process and that is China. They have multiple vaccines of their own and are exporting them. I saw an article that in south America a lot of countries are relying on the vaccine. The wierd thing is that in the West we don't even talk about it. There is no process to bring the Chinese vaccine variants on the market. Maybe people don't trust China anymore.
China is definitely profiting out of the prevailing situation and there is no doubt regarding this. But for the poorer countries, there is no other option. Pfizer has simply refused to provide vaccines for developing nations. They even asked Argentina and Brazil to put the gold reserves and army bases as bank guarantee to supply the vaccines. Pfizer has so far made tens of billions of USD from the exports of vaccine (two dose of Pfizer vaccine costs $74, and a third booster dose is required after 6-12 months).
China has quite a big problem though because their vaccines are not that effective
https://www.republicworld.com/world-news/china/china-covid-19-vaccines-have-low-efficacy-admits-top-centre-for-disease-control-director.html
This whole pandemic doesn't sound right to date, IMO. There are far too many grey areas that have not been discussed thoroughly and I don't understand how this epidemic works.
Take Laos, before they started jabbing people there were literally zero cases: after the vaccination started cases started to spread. What the hell?
https://www.worldometers.info/coronavirus/country/laos/
https://www.republicworld.com/world-news/china/china-covid-19-vaccines-have-low-efficacy-admits-top-centre-for-disease-control-director.html
This whole pandemic doesn't sound right to date, IMO. There are far too many grey areas that have not been discussed thoroughly and I don't understand how this epidemic works.
Take Laos, before they started jabbing people there were literally zero cases: after the vaccination started cases started to spread. What the hell?
https://www.worldometers.info/coronavirus/country/laos/
In my post, I wrote essentially the same thing - to limit quarantine measures, vaccinate as much as possible, limit the movement of the unvaccinated and carriers of the virus, and no mass events! We must understand that this is a disease and we must fight it in an appropriate way!
Vaccination is the main issue now. Apart from the developed world, vaccination is progressing at snail's pace due to supply chain issues with AstraZeneca. Pfizer and Moderna are limiting their supplies to richer countries and are asking for impractical guarantees from the poorer nations to supply the vaccine. With just 1% to 2% completely vaccinated in the developed countries, it is not a good idea to restrict the freedom of movement of the unvaccinated.
It seems that one big country is profiting a lot from the vaccination process and that is China. They have multiple vaccines of their own and are exporting them. I saw an article that in south America a lot of countries are relying on the vaccine. The wierd thing is that in the West we don't even talk about it. There is no process to bring the Chinese vaccine variants on the market. Maybe people don't trust China anymore.
In my post, I wrote essentially the same thing - to limit quarantine measures, vaccinate as much as possible, limit the movement of the unvaccinated and carriers of the virus, and no mass events! We must understand that this is a disease and we must fight it in an appropriate way!
Vaccination is the main issue now. Apart from the developed world, vaccination is progressing at snail's pace due to supply chain issues with AstraZeneca. Pfizer and Moderna are limiting their supplies to richer countries and are asking for impractical guarantees from the poorer nations to supply the vaccine. With just 1% to 2% completely vaccinated in the developed countries, it is not a good idea to restrict the freedom of movement of the unvaccinated.
And the reason why this pandemic will not end this year but will continue up to another year again because supply isn't enough and the virus keeps updating as well. The new variants can be more contagious than the previous and if people keep gathering on events because of the mass gatherings and cultural events.
When we all are going to be used to these lockdowns and online transactions, the new generations are also going to just adopt easily to online deals. Economies are going to run this way from now on.
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