Vaccine races and currency wars: Mike Dolan
A collision of vaccine races, early policy reversal and even currency wars could well give investors a headache this year.
Speed in ending the pandemic is clearly critical to all economies and markets. And strategists everywhere are poring over relative rates of vaccine rollouts for a lead on whose national herd reaches immunity first – with obvious implications for businesses, consumers and markets.
On available data, Israel seems far ahead with more than 30 doses per 100 people already. Britain and the United States lead the larger economies with between five and seven. Europe, China and the rest of the world lag despite plans to ratchet up distribution.