Japan now poses the great threat to world financial stability. Once again, its economy is in recession, its budget deficit huge, its public debts (including unfunded pensions) worse than anywhere else in the world. With over-regulation unchecked and the private sector mired in a debt swamp, entrepreneurship can’t be relied upon to stimulate change.
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During the 2009 swine flu pandemic, a few countries cornered the vaccine market, leaving the vast majority of the global population with no vaccine at all until the outbreak was effectively over. This scenario must be avoided at all costs during the current crisis – and, thanks to the COVID-19 Vaccine Global Access Facility, it can be.
argue that the COVID-19 Vaccine Global Access Facility is the key to overcoming the coronavirus.
As the world’s largest economies, the G20’s members have one overriding responsibility at their finance ministers' upcoming meeting: to agree on actions to suppress the pandemic. Ensuring effective public-health measures is today’s essential economic policy.
urges the finance ministers meeting this week to focus on policies needed to suppress the pandemic.