FT News Briefing The race for a vaccine, the story behind EBITDAC, BoE’s Bailey
May 15, 2020
The global race for a coronavirus vaccine is heating up, with tension between national interests and the need for global cooperation. Companies are innovating with 'EBITDAC,' a new financial metric that raises eyebrows about transparency. Investor strategies are crucial amid evolving financial landscapes, while the Bank of England's governor discusses policies in response to the economic crisis. The implications of vaccine distribution on geopolitical power dynamics add a fascinating twist to the ongoing pandemic narrative.
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Vaccine Nationalism
- Sanofi CEO Paul Hudson suggested the US should get priority access to their COVID-19 vaccine.
- This sparked outrage, highlighting the tension between national interests and global health needs.
Vaccine Race as Cold War
- Vaccine development is becoming a nationalistic competition, like a Cold War.
- National security and economic interests are overshadowing global health cooperation.
Nationalism's Double-Edged Sword
- A purely multilateral approach might slow vaccine development by limiting the number of candidates.
- National competition could accelerate innovation but creates distribution challenges.