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Trade and the unequal race to the Covid-19 vaccine
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Pub. Date
08 February, 2021
Pub. Type
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This content is restricted to corporate members, NiGEM subscribers and NIESR partners.
Related Themes
Macro-Economic Modelling and ForecastingTags
Publisher
NIESR, London
Key points
- Until an effective vaccine is available on a widespread basis, restrictions on international travel will continue to restrain the global economic recovery, reducing world trade this year by at least 2¾ per cent.
- Given the uneven distribution of vaccine access worldwide, many low-income and lower-middle-income countries may need to retain restrictions on mobility well into 2022 to prevent renewed virus outbreaks. Economic growth will suffer in all countries as a result, especially in those that cannot secure sufficient doses of vaccine.
- Our analysis highlights the importance of a coordinated and widespread rollout of the Covid-19 vaccine to enable the revitalisation of services trade.
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