The vaccine and the economy

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and a new study from the international chamber of busines notes the fact that even though they are americans do injected every american gets vaccinated the u.s could still meet a slow economic recovery the study suggests that since we live in a global economy the u.s can’t amply recover until vaccines are widely available to the rest of the world foreign correspondent maggie rooley has the details a brand-new study warning that no country’s economy will truly recover from this pandemic until everyone around the world has access to the vaccine we’re not going to get out of this until everyone gets out of it the second if you want to have an effective financial stimulus make certain that you invest in a world spread global availability of the vaccine the international chamber of industry says their study proves that a sluggish and ineffective global vaccine rollout could cost the u.s more than a trillion dollars why does injecting a country on the other side of the world affect someone like you said on main street in america how are they connected well partly due to the nat the the nature of the us economy and the us is one of the most if not the most interconnected economy in the world he opens us this illustration tires in thailand so the actual production of the tyres which are required to keep the auto industry going in the us are being diminished because thailand thailand can’t access the vaccines and the therapeutics needed to deal with covert 19.

To keep this global economy churning denton says it will take investment from richer nations like the u.s into kovacs the world-wide organization attempting to manage a worldwide inoculation rollout it’s something the new biden disposal has committed to joining it’s actually not an act of kindness in doing so it’s an act of mutual interest and frankly it’s actually an number of effective economic programme denton says it’ll take precisely a marry percentage points of an increase to the current stimulus proposal to fund the global rollout and that that amount will gain a 160 meters return on investment it’s not just the icc nearly every world party is warning against vaccine nationalism the who’s urging countries to prioritize the most vulnerable around the world first and their respective countries second the world is on the brink of a catastrophic moral failure and the price of this los will be paid with live and supports in the world’s poorest countries this new study shows that the livelihoods of those in the world’s poorest countries are intrinsically attached their living standards of people living in america i’m really curious what the reaction’s been like because i can see a lot of beings when they’re had to deal with a crisis turn inward and want to protect their country and you’re trying to convince them actually that the best way to protect their country is by turning outward and trying to boost the global economy is that been a hard sell of course there’s moral justifications but at the end a politician a lead needs to be able to explain to their citizens why they are giving this coin not instantly into their pockets of it to someone else’s pockets we’re giving it to someone else to help them so that they can help you it’s actually an ordinance not of magnanimity but of actual of mutual interest and maggie rooley participates me live now for more maggie it’s such an interesting point you know you’re talking about a capability 1.3 trillion dollar smacked to the u.s economy that’s a startling figure how would this impact the rest of the world well dad that’s what’s so interesting it’s a startling list for the u.s but it’s going to be a world affect you know the icc says it’s hard to even overestimate how much of a negative financial bang this would be for the world the gdp they say globally would get hit more than a nine trillion dollars nine trillion dollars that list is so large it’s hard to fathom diane what’s interesting it’s that half of that is going to be absorbed by high-pitched income countries like the us you know john denton at the icc he goes on to sort of remind people this study is coming from the icc the international assembly of exchange they are a world renowned group they are respected in the field of economics he says you know parties listen to our studies so even though this one is emotional it’s about people’s health it’s about the vaccine it also impacts the economy and the world should really listen to this study as well yeah and scientists are also worried about a gradual global rollout what’s their biggest concern there you know this isn’t just going to collision the economy it’s also going to affected the health of the world you know one of the major concerns for scientists is that even if a country like the u.s is able to vaccinate their whole population if another country you know the virus extends unchecked parties are not vaccinated scientists say mutations there are going to run wild the who has out saying they fear that if mutations continue to grow around the world eventually one of them could become resistant to some of the inoculations that we have so if something like that happens diane even if you’re fully injected in the u.s if a new monstrosity strain starts somewhere else it could go back into the u.s and ultimately cause harm to parties so again it goes back to what we preserve hearing from the who from the icc the world is not going to be safe until every single country is also inoculated and safe so where do we stand now how long before the world is inoculated yeah well dan it’s an uphill battle we did get some good story today just hours ago kovacs came out announcing they do have their first batch of countries 18 countries they’re going to be sending inoculations into this is a huge deal that something they’ve been working towards for months so this is really really good news hopefully we can get these inoculations into poorer nations but dan even with this good news we’re still facing an uphill battle here you know many countries they say poorer commonwealths could not vaccinate all of their vulnerable populations for at least another time so if you think of that that’s a whole other time of vaccine leading mad in some of these countries potentially mutant damages popping up and likewise the global economy being impacted so that is going to hurt not only the world but the u.s and especially the us’s bottom line if we don’t get hold of this around the world yeah a lot to consider there maggie genuinely in london for us thanks maggie

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