Jan. 26, 2021
INTERNATIONAL CHAMBER OF COMMERCE CALLS ON NATIONS TO ENGAGE IN COVID 19 EQUITY FOR ECONOMIC GOOD
Two new studies show that it wouldn’t just be a moral failure, it would be an economic failure.
A new report from the International Labour Organization finds that 8.8% of global working hours were lost last year, resulting in a decline in global labour income equivalent to US$ 3.7 trillion.
The second study, commissioned by the International Chamber of Commerce Research Foundation, makes a strong economic case for vaccine equity. It finds that vaccine nationalism could cost the global economy up to US$ 9.2 trillion, and almost half of that – US$ 4.5 trillion – would be incurred in the wealthiest economies. TEDROS