Vaccine Hoarding by Richer Nations Threatens Global Recovery, Some Say
Some experts argue that stopping the virus for all needs to be a global effort but suspicions between nations complicate partnerships.
Concerns about shortages of an effective coronavirus vaccine has led world leaders to plea for widespread distribution when it is ready. The warnings against 'vaccine hoarding" came during this year's virtual United Nations General Assembly. (Sept. 23) The International Monetary Fund and World Bank annual meetings kicked off in Washington, D.C., this week.
This, as economists warn of the worst global recession since the Great Depression in the 1930s.
The IMF released its latest World Economic Outlook this week, predicting global GDP will contract by 4.4% in 2020.
The forecast was slightly better than its last one in June, but the organization still warned of a "long, uneven and uncertain" recovery from the coronavirus pandemic.
China continues to be the only economy in the world to show positive growth in 2020 as its GDP is predicted to expand 1.9 percent this year, according to the IMF report.
In an exclusive interview, CGTN's Yin Yue spoke to Kristalina Georgieva, Managing Director of the IMF, about the global economic recovery from the coronavirus pandemic and why China may lead the way.
"China put in place massive fiscal and monetary stimulus," Georgieva said. "And China has been very effective in containing the spread of the virus."
She added, "China's growth for this year…This is going to be good for China. It is also good for the world economy." According to the New York Times, the CDC has notified states to get ready to distribute a vaccine by October or November. This raises questions on the political timing of the vaccine delivery. Aired on 09/02/2020. The head of the US Centers for Disease Control, Dr. Robert Redfield has urged states to be ready to distribute a potential COVID-19 vaccine by November 1st. See what's the latest progress of the U.S.'s vaccine development.