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No One Is Safe Until Everyone Is Safe

Summary:
Minimizing the risk of yet more destabilizing COVID-19 variants is crucial if countries are to turn the corner on a shock that has wrecked lives and livelihoods. The alternative is to adopt a bunker-like approach and sharply curtail the inward and outward flow of citizens, residents, and visitors. LAGUNA BEACH – Recognizing that “no one is safe until everyone is safe,” the G7 recently announced additional steps to facilitate globally more “affordable and equitable access to vaccines, therapeutics, and diagnostics” to combat COVID-19. But translating stated intent into effective action will require both bold political leadership at home and support for developing countries that goes well beyond financial aid. Getting

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Minimizing the risk of yet more destabilizing COVID-19 variants is crucial if countries are to turn the corner on a shock that has wrecked lives and livelihoods. The alternative is to adopt a bunker-like approach and sharply curtail the inward and outward flow of citizens, residents, and visitors.

LAGUNA BEACH – Recognizing that “no one is safe until everyone is safe,” the G7 recently announced additional steps to facilitate globally more “affordable and equitable access to vaccines, therapeutics, and diagnostics” to combat COVID-19. But translating stated intent into effective action will require both bold political leadership at home and support for developing countries that goes well beyond financial aid. Getting it right won’t be easy, but the effort is essential if rich countries wish to avoid living in a fortress with the mentality to match.

The current inequality in vaccine availability and deployment is stark. According to United...

Mohamed A. El-Erian
Chief Economic Adviser, Allianz. Author of NYT bestsellers "When Markets Collide" and “The Only Game in Town.”

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