Rich countries under fire to snap up COVID-19 vaccine supply

Rich countries have cornered the markets on vaccine supply

A study by Oxfam showed that the wealthy nations consisting of a mere 13% of the world's population have roped in 51% of the Covid-19 vaccine doses.

Britain, the US,  Australia, Hong Kong and Macau, Japan, Switzerland, Israel, and the European Union are the countries practicing "vaccine nationalism".

The report also claimed that the deals are already struck between countries, pharmaceutical companies, and vaccine producers for five leading global candidates.

"Me first" approach of the US

Earlier this month, President Trump declined to join 172 countries in the WHO global plan to supply vaccines adequately around the world.

Trump on Wednesday was optimistic about the rolling out of vaccines as early as the next month.

The US is running its own Domestic-focussed program known as Operation Warp Speed with seven candidates already in the clinical trials with humans and three in Phase 3 development.

Oxfam warns of shortage

Vaccines supply may fall short as Oxfam suggested that nearly two-thirds of the population would be devoid of the vaccine until at least 2022.

"Access to the lifesaving vaccine shouldn't depend on where you live or how much money you have.", Said advocacy manager in Oxfam America, Robert Silverman.

System committed to wealthy countries

Study by ET shows rich countries have already tied up with leading companies

As highlighted by Oxfam, monopolies and company profits are protected by a broken system that favors big countries.

The leading candidates have sold their options for all their doses to wealthy countries with a hefty hike in the price of doses for poor countries.

Global economy at an all time low

India along with many other developing countries might have to "wait" for vaccines

Accompanying India among the worst-hit economies, New Zealand posted a record slump of 12.2 percent for the April-June quarter in lieu of the lockdown restrictions from March to May.

The nation confirmed recession for the first time in eleven years though economists were optimistic about the recovery in the September quarter.

However, South Africa showed positive signs with less than 2000 cases per day lately from 12000 per day in July.

The authorities announced the opening of borders as part of ease in the vaccine transport across countries.

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