Economic Crisis

SouthViews No. 203, 24 July 2020

Coronavirus pandemic: the vaccine as exit strategy

A GLOBAL HURDLE RACE AGAINST TIME WITH A SPLIT JURY

By Francisco Colman Sercovich

Sars-CoV-2, a novel pathogen, submits a stern warning, a clarion call, on the huge human costs of shortsightedness, inaction and lessons lost in the face of common predicaments at the global level. Yet, a number of key actors remain oblivious, including ethically-challenged politicians seeking to elbow their way to the front of the queue at the expense of the poorest and most vulnerable nations and communities. Contrary to expectations being formed, a safe and effective vaccine for the Covid-19 strain once, if ever, attained, is the best way out but unlikely to do as a silver bullet in the midst of the complexities and unknowns at play.

As a result of the harmful impact of the pandemic and ensuing policy aftermath, the world runs the risk of squandering the gains barely made in the fight against poverty over the last few decades – a looming scenario of egregious global governance failure, in view of the eight close calls recently received (three flu epidemics or near-flu epidemics, two Sars episodes, one Mers episode, Zika & Ebola). A promptly and universally distributed vaccine promises to prevent future disease outbreaks. However, many scientific, economic and distributional hurdles stand in the way. Whilst each day counts, the survival of hundreds of millions of lives hangs in the balance as health issues and those pertaining to livelihoods, nutrition, schooling and deprivation are so closely interdependent. Can we rule out the need to resort to internationally sanctioned legal remedies as an inescapable response?

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SouthViews No. 202, 17 July 2020

Lessons from COVID-19: Pharmaceutical Production as a Strategic Goal

By Dr. Carlos M. Correa

As often said, major crises bring about challenges but also opportunities. The strategic importance of a local pharmaceutical industry has been growingly recognized as a result of the COVID-19 crisis. Developing countries should take advantage of this opportunity to strengthen their pharmaceutical industry, including biological medicines. Industrial policies would need to be reformulated under an integrated approach so as to expand value added & create jobs while addressing public health needs. South-South cooperation may also play an important role in increasing the contribution of developing countries to the global production of pharmaceuticals.

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SouthViews No. 201, 23 June 2020

The Weakness of Economic Multilateralism

By José Antonio Ocampo

The weakness of multilateral cooperation was evident at the meetings of the Group of 20 and the Bretton Woods institutions in Washington. The limited international cooperation contrasts with the ambitious domestic policies adopted by some developed countries, and in particular the United States, to manage their crisis. The big losers will be the emerging countries, for whom cooperation has so far been minimal.

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Research Paper 114, June 2020

Equitable Access to COVID-19 Related Health Technologies: A Global Priority

By Dr. Zeleke Temesgen Boru

Since COVID-19 was first identified, infections from the virus and the death toll have spiked abysmally. The pandemic has also paralyzed the economies (particularly, global trade, tourism and transport) of many countries. The dire social and psychological ramifications associated with the pandemic are also immense. The threat posed by COVID-19 on global health and the economic downturn resulting thereof necessitates the development of health technologies (such as medicines and vaccines). A global effort to invent new health technologies or the likely application of existing technologies is also underway since the outbreak of the pandemic. Even though the race to develop these technologies can be hailed as a pivotal undertaking, the development of health technologies alone may not expedite equitable access to the outcome of such development. Particularly, the lack of access to health technologies may befall if the conventional model of health technology pricing, which is derived from monopoly rights created by IP protection, is set. However, legal as well as policy tools can be used to overcome such hurdles and ensure global access to health technologies. In this sense, this paper discusses plausible legal and policy options that can help to accelerate access to health technologies targeting COVID-19.

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SouthViews No. 199, 12 June 2020

COVID-19 Economy vs. Human Rights: A Misleading Dichotomy

By Juan Pablo Bohoslavsky

While COVID-19 is a threat to the rights to life and health, the human rights impact of the crisis goes well beyond medical and public health concerns. The health crisis itself and a number of state measures to contain it-—mainly isolation and quarantine-—are leading the world into an economic recession. States and others need to take preventive and mitigating measures urgently to contain the pandemic and these must entail global cooperation and coordination. Just as the health crisis response must be rooted in human rights law, so too must national and international responses to the drastic economic downturn.

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Statement, May 2020

Message from the South Centre at the launch of the “Solidarity Call To Action” by the President of Costa Rica and the Director-General of the WHO

The architecture for access to medicines and vaccines, which is already complex to manage in normal times, requires even more structured actions in times of a pandemic by the scale of the demand and the urgency in meeting it. This call for solidarity to bring together the technologies and treatments related to COVID 19 is part of the necessary solution. It complements other available instruments for States to facilitate access to prevention and treatment for the population, including through the use of the flexibilities of the WTO TRIPS Agreement.

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Statement, May 2020

South Centre Statement at the 73rd World Health Assembly (WHA)

Today we are facing a global health, economic and social crisis, the most serious in the last hundred years. The resolution adopted by this World Health Assembly on COVID 19 should have been more ambitious given the dimension of the current crisis. The response to an exceptional challenge must be exceptional. The COVID 19 pandemic forces us to reflect on whether many health systems and the WHO itself were prepared to face this crisis.

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Policy Brief 74, April 2020

Challenges and Opportunities for Implementing the Declaration of the Right to Development

By Yuefen Li, Daniel Uribe and Danish

The 1986 Declaration on the Right to Development was a milestone for both human rights and development. The Declaration recognizes that the right to development (RTD) is an inalienable human right and introduced an alternative and holistic approach to development that goes beyond the economic field to include social, cultural and political development. Although there are current concerns about the pace of progress in fulfilling the RTD, this Policy Brief examines the linkages of the right to development and different global initiatives tackling current challenges for different aspects of the RTD. This brief shows that there has been broader support by countries and people since 1986 to fulfill the RTD although much still needs to be done for addressing income and other inequalities while empowering people in the processes of formulating and implementing people-centered development policies. Despite challenges, the brief also examines some promising opportunities for the RTD.

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Statement, April 2020

South Centre Statement to the Ministers and Governors Meeting of The Intergovernmental Group of Twenty-Four (G24)

The COVID-19 pandemic is not only a major health calamity with mounting humanitarian costs but also the biggest economic crisis since the Second World War. Immediate debt relief is needed for poor countries with unsustainable debt. The global pandemic requires a global solution and solidarity.

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SouthViews No. 192, 6 April 2020

The adverse human rights impact of economic inequality

By Blerim Mustafa

Increasing economic inequality is a defining challenge of our time. Economic growth can often be disproportionate and unequal, adversely affecting marginalized and disadvantaged groups in society. Economic inequality has had adverse economic, social and political impacts for social stability and cohesion, political participation, poverty reduction, as well as the enjoyment of human rights. The realization of human rights cannot be separated from broader questions of economic and social justice.

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Book by the South Centre, 2019

The Politics of Trade in the Era of Hyperglobalisation: A Southern African Perspective

 

About the Book:

Matters of international trade are increasingly widely recognised as major shapers of global politics. News bulletins are giving more and more coverage to matters like the so-called “trade wars” between the United States and China. These are, indeed, increasingly defining relations between the two largest economies in the world and could well underpin a multi-dimensional rivalry that could be a central feature of international relations for many years to come. Brexit is dominating and indeed re-shaping politics in the United Kingdom. By definition a rejection of a regional integration arrangement, Brexit has also revealed under-currents profoundly shaped by the outcome of a broader trade-driven process called “globalisation”. Just as regional integration is weakening in Europe, African countries have taken decisions that could lead to the most profound and ambitious step forward in African regional integration – the establishment of an African Continental Free Trade Area (AfCFTA). This study seeks to present an analysis of the political economy of trade negotiations over the past quarter century on two main fronts: the multi-lateral and those pertaining to regional integration on the African continent.

Author: Rob Davies is former South African Minister of Trade and Industry.

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