The proper functioning of any interconnected economic system depends on trust. And a global system that has been designed by advanced economies requires a significant level of buy-in from the developing world. Both become even more important as more developing economies, led by China, gain systemic importance. Moreover, several advanced economies have accumulated massive vaccine surpluses as they plan for a round of boosters in the fall. The longer the global vaccine rollout stumbles, the greater the long-term damage to an already stressed international system.

Source: The Guardian May 28, 2021 05:01 UTC