HomeCOVID-19 Vaccine A Solution to the Economic Crisis

COVID-19 Vaccine A Solution to the Economic Crisis

30 October 2020 By Mircea Vasiu

The COVID-19 second wave took Europe completely by surprise. More than six months into the pandemic, one would think that the European learned something from social distancing rules and lockdowns imposed by governments. 

Instead, the number of infections increased exponentially, mostly due to people getting tired of restrictions.

Something did change, though. That is, the people’s perception towards a COVID-19 vaccine. A recent survey conducted in nineteen countries by Nature Medicine shows that almost half of the respondents would take a COVID-19 vaccine. Moreover, a further 25% of the respondents said that they somehow agree with taking a vaccine. This comes in sharp contrast to the responses at the start of the pandemic, revealing what a difference six months into the pandemic makes.

Moderna Prepares for the Global Launch of COVID-19 Vaccine

Moderna, a U.S. pharmaceutical company in the last phase of testing its COVID-19 vaccine, took over $1 billion in deposits from various governments around the world. The MRNA-1273, a COVID-19 vaccine, is based on genetic material that provokes the human body’s immune system to fight the virus.

Governments around the world placed orders for vaccines with various pharmaceutical companies. Moreover, preparations for the vaccination campaign are well underway in many countries. It is not an easy task to have the proper infrastructure in place, and priority flows too.

Even with all the preparations and available funds, the vaccination will take time to unfold. It is not like a vaccine is available in January, and by February it is administrated to everyone. Instead, this is a process that takes time, probably towards the end of 2021, should an effective vaccine appear at the start of the year.

As such, the economic impact of the pandemic will remain for much of next year. However, the more people are willing to take a potential vaccine, the faster the economic recovery could be.

The pandemic brought an intense discussion about governments focusing more on the economy and less on the health-related problems. However, the truth is that they both go hand in hand. A proper health-system cannot operate without a functional economy.

Therefore, a COVID-19 vaccine is perhaps the only solution to the economic crisis.