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T ONCE SEEMED possible that covid-19 might deliver a softer blow to poor economies than rich ones. Instead, the virus seems likely to set the emerging world back in its quest to attain advanced-economy incomes. Real
GDP per person in America shrank by about 4% in 2020, only about half a percentage point more than the average across emerging markets, in purchasing-power-parity terms. But projections made by the
IMF in April suggest that American growth is set to outpace that in the emerging world this year; with the pandemic still ravaging places like Brazil and India, poor-country growth will probably lag even further behind. More worrying still, the pandemic may reshape the global economy in ways that make continued convergence towards rich-world incomes a tougher slog. Worse prospects for poor countries will in turn make managing future crises, from pandemics to climate change, harder. The rich world should take note.
India welcomes US support for proposal to waive off patent protection rules on Covid-19 vaccines
Hopeful that with a consensus based approach, the waiver can be approved quickly at the WTO. It is an important step for enabling rapid scaling up of manufacture and timely availability of affordable Covid 19 vaccines and essential medical products, says the Centre
BusinessToday.In | May 7, 2021 | Updated 08:32 IST
In view of Covid-19 pandemic, India and South Africa in 2020 had proposed in WTO a relaxation in the norms of the agreement on TRIPS
India has welcomed the US support for a relaxation in the norms of the TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement to ensure quick and affordable access to Covid-19 vaccines and medicines for developing countries.
US on board to waive off patent rules on Covid vaccines; India gives thumbs-up
Hopeful that with a consensus based approach, the waiver can be approved quickly at the WTO. It is an important step for enabling rapid scaling up of manufacture and timely availability of affordable Covid-19 vaccines and essential medical products, says the Centre
BusinessToday.In | May 7, 2021 | Updated 11:17 IST
In view of Covid-19 pandemic, India and South Africa in 2020 had proposed in WTO a relaxation in the norms of the agreement on TRIPS
India has welcomed the US support for a relaxation in the norms of the TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement to ensure quick and affordable access to Covid-19 vaccines and medicines for developing countries.
US to support India-South Africa WTO proposal to waive off patent protection rules on Covid-19 vaccines
On May 5, US Trade Representative Katherine Tai said the Biden-Harris administration has decided to announce support. This is a global health crisis and the extraordinary circumstances of the Covid-19 pandemic call for extraordinary measures, Tai stated
Joe C Mathew | May 6, 2021 | Updated 08:18 IST
After the US support, EU will be the only major trade bloc that continues to oppose the move at WTO
The United States has announced the support for waiving intellectual property (IP) protection for Covid-19 vaccines. The decision is a breakthrough in India and South Africa s attempts to get World Trade Organisation (WTO) member countries to agree to such a waiver to fight the pandemic equitably.