SouthViews No. 225, 21 July 2021
By Prof. Ujal Singh Bhatia
The author posits that the global public health impact of the Covid-19 pandemic along with the economic and distributional aspects of vaccines and treatments, involves a market failure without the underlying institutional safety nets for an effective, globally coordinated response. He proposes strong, self-standing institutions with clear mandates and resources to make effective interventions at three levels: political, financial and regulatory. Also, the WTO rules regarding export restrictions are at present too accommodative to allow for a quick response. For Intellectual Property, both manufacturing and licensing, and relaxation of IP rules should be considered.
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This article was tagged: Access to data, Compulsory Licenses, Coronavirus, COVID-19, Export Restrictions, Global Cooperation, Global Health, Global Value Chains (GVCs), Group of 7 (G-7), Intellectual Property, Intellectual Property Rights (IPRs), International Financial Institutions (IFIs), Pandemic, Public Health, Technology Transfer, Trade Secret, TRIPS, Vaccine Nationalism, Vaccines, World Health Organization (WHO), World Trade Organization (WTO)