Opioid deaths in America reached new highs in the pandemic

‘Last year (2020) was a woeful time for people suffering from a drug addiction. Government shutdowns brought job losses and social isolation—conditions that make a transportive high all the more enticing. Those who had previously used drugs with others did so alone; if they overdosed, no one was around to call for help or administer naloxone, a medication that reverses opioid overdoses.

‘Fatal overdoses were marching upwards before the pandemic. But they leapt in the first part of last year as states locked down, according to provisional data from the Centres for Disease Control and Prevention. Deaths from synthetic opioids—the biggest killer—were up by 52% year-on-year in the 12 months to August, the last month for which data are available. Those drugs killed nearly 52,000 Americans during the period; cocaine and heroin killed about 16,000 and 14,000, respectively (see chart). Once fatalities are fully tallied for 2020, in a few months’ time, it is likely to be the deadliest year yet in America’s opioid epidemic.’

Read here (The Economist, Mar 30, 2021)

More than 85 poor countries will not have widespread access to coronavirus vaccines before 2023

• The rollout of vaccines against the coronavirus (Covid-19) has started in developed countries, but mass immunisation will take time. 
• Production represents the main hurdle, as many developed countries have pre-ordered more doses than they need. 
• The costs associated with mass immunisation programmes will be significant, especially for less-developed countries that have limited fiscal resources. 
• Vaccine diplomacy will play a role in determining which countries get access to a vaccine in the coming months. 
• Russia and China will use the rollout of their own coronavirus shots to advance their interests. 
• With priority groups vaccinated in rich economies by end-March, The EIU expects global economic prospects to brighten from mid-2021. 
• For most middle-income countries, including China and India, the vaccination timeline will stretch to late 2022. 
• In poorer economies, widespread vaccination coverage will not be achieved before 2023, if at all.

Read here (The Economist, Jan 27, 2021)

Europe has fallen behind on Covid-19 vaccination

“LONG COVID”, a collection of debilitating symptoms born of the coronavirus, is a chronic form of the illness, dreaded by patients. The term may also come to describe the progression of the pandemic in Europe. The pan-continental drive to vaccinate the EU’s 450m citizens has started at a glacial pace. Given more than 100,000 daily cases of late—and more deaths than in America—a laggardly inoculation schedule risks extending covid’s grip on Europe for several months.

‘Mainland Europe stands out as a global vaccine straggler, certainly in the rich world. America and Britain have already jabbed 1-2% of their populations; Israel, the world’s stand-out star, is now at 16%, according to Our World in Data, a website. In contrast Germany has administered merely 317,000 jabs, or 0.4% of its people. France did not break the 1,000 mark until January 4th. The Netherlands is due to start its vaccination drive only this week.’

Read here (The Economist, Jan 5, 2021)

Will the economic and psychological costs of covid-19 increase suicides? It is too early to say, but the signs are ominous

‘When America’s Centres for Disease Control and Prevention (CDC) carried out a survey this summer, it found that one in ten of the 5,400 respondents had seriously considered suicide in the previous month—about twice as many who had thought of taking their lives in 2018. For young adults, aged 18 to 24, the proportion was an astonishing one in four.

‘The survey, published in August, was one of a growing number of warnings about the toll that the pandemic is taking on the mental health of people. For legions, the coronavirus has upended or outright eliminated work, schooling and religious services. On top of that, lockdowns and other types of social distancing have aggravated loneliness and depression for many.’

Read here (The Economist, Oct 5, 2020)

How viruses shape the world

‘Viruses are unimaginably varied and ubiquitous. And it is becoming clear just how much they have shaped the evolution of all organisms since the very beginnings of life. In this, they demonstrate the blind, pitiless power of natural selection at its most dramatic. And—for one group of brainy bipedal mammals that viruses helped create—they also present a heady mix of threat and opportunity.’

Read here (The Economist, August 22, 2020)

Covid-19 is causing a microcredit crunch

‘Today the lending portfolios of microfinance institutions (mfis) are worth a combined $124bn. But the industry is in trouble. Covid-19 is straining its finances. Repayments, usually done in cash and in person, have plummeted, yet the banks and investors which provide the mfis with funds still expect money. A crunch looms. More than two-thirds of mfis have cut lending, often by at least half. Nearly one-third do not have enough cash to meet outflows this quarter. If only this were the industry’s only problem. Compounding it is a set of deeper, longer-standing issues that have begun to undermine its reputation for efficiency and probity.’

Read here (The Economist, August 15, 2020)

The Covid-19 pandemic is forcing a rethink in macroeconomics: It is not yet clear where it will lead

 ‘In the form it is known today, macroeconomics began in 1936 with the publication of John Maynard Keynes’s “The General Theory of Employment, Interest and Money”. Its subsequent history can be divided into three eras. The era of policy which was guided by Keynes’s ideas began in the 1940s. By the 1970s it had encountered problems that it could not solve and so, in the 1980s, the monetarist era, most commonly associated with the work of Milton Friedman, began. In the 1990s and 2000s economists combined insights from both approaches. But now, in the wreckage left behind by the coronavirus pandemic, a new era is beginning. What does it hold?...

‘The rethink of economics is an opportunity. There now exists a growing consensus that tight labour markets could give workers more bargaining power without the need for a big expansion of redistribution. A level-headed reassessment of public debt could lead to the green public investment necessary to fight climate change. And governments could unleash a new era of finance, involving more innovation, cheaper financial intermediation and, perhaps, a monetary policy that is not constrained by the presence of physical cash. What is clear is that the old economic paradigm is looking tired. One way or another, change is coming.’

Read here (The Economist, July 25, 2020)

The hunt for the origins of SARS-CoV-2 will look beyond China: The virus may have been born in South-East Asia

‘John Bell, a professor of medicine at the University of Oxford, says everyone thought there would be a flood of cases in Vietnam because the country is right across the border from China. Yet Vietnam has reported only 300 in a population of 100m, and no deaths. The country did not have a great lockdown either, he adds. Nobody could work out what was going on.

‘One explanation, he suggests, is that Vietnam’s population is not as immunologically “naive” as has been assumed. The circulation of other sars-like viruses could have conferred a generalised immunity to such pathogens.’

Read here (The Economist, July 22, 2020)

Why has the pandemic spared the Buddhist parts of South-East Asia?

‘Vietnam is the standout: with 97m people, it claims no deaths from covid-19. Thailand, with 70m, has seen just 58 fatalities and no local transmission in over 40 days. Impoverished Myanmar claims just six deaths from 317 cases, while Cambodia (141 confirmed cases) and tiny Laos (19 cases) also have no deaths apiece and no local transmission since April. Compare that with the nearby archipelagic nations of Indonesia (some 68,100 cases and 3,400 deaths) and the Philippines (50,400 cases and 1,300 deaths), where the pandemic still rages.’

Read here (The Economist, July 11, 2020)

Covid-19 has led to a pandemic of plastic pollution

‘Whether on the foreshore of the Thames or the deserted beaches of Soko, the planet is awash with pandemic plastic. Data are hard to come by but, for example, consumption of single-use plastic may have grown by 250-300% in America since the coronavirus took hold, says Antonis Mavropoulos of the International Solid Waste Association (ISWA), which represents recycling bodies in 102 countries. Much of that increase is down to demand for products designed to keep covid-19 at bay, including masks, visors and gloves. According to a forecast from Grand View Research, the global disposable-mask market will grow from an estimated $800m in 2019 to $166bn in 2020.’

Read here (The Economist, June 22, 2020)

How Uruguay has coped with Covid-19

‘By June 18th Uruguay had reported 849 confirmed cases and 24 deaths from covid-19, the lowest number as a share of population of any country in South America. Uruguay has administered 55,215 tests, a regional record... Luis Lacalle Pou, the centre-right president, was swift but not strict. On March 13th he declared an emergency and shut the borders. Like the populist leaders of Brazil and Mexico, he is at pains to shield the economy. Unlike them, he does not make light of the disease...

‘The government calls its policy libertad responsable (responsible liberty). It shut down schools, cinemas and shopping malls. It urged people to work from home, wear face masks and keep their distance from each other, but did not confine them to their houses. Mr Lacalle Pou “was not going to imprison people”, says an adviser.’

Read here (The Economist, June 20, 2020)

Working life has entered a new era: Farewell BC (before coronavirus). Welcome AD (after domestication)

‘Without the Monday-to-Friday commute, the weekend seems a more nebulous concept, as does the 9-to-5 working day. In future employees may work and take breaks when they please, with the company video call the only fixture. The downside, however, is that the rhythm of life has been disrupted and new routines are needed: as Madness, a British pop group, sang about school in “Baggy Trousers”, people are reduced to “trying different ways to make a difference to the days”.’

Read here (The Economist, May 30, 2020)

The pieces of the puzzle of covid-19’s origin are coming to light

‘Many scientists think that with so many biologists actively hunting for bat viruses, and gain-of-function work becoming more common, the world is at increasing risk of a laboratory-derived pandemic at some point. “One of my biggest hopes out of this pandemic is that we address this issue—it really worries me,” says Dr Pilch. Today there are around 70 bsl-4 sites in 30 countries. More such facilities are planned...

‘The question of whether they really are [unrecognised zoonoses], and how those threats may stack up, needs attention. That attention needs laboratories. It also needs a degree of open co-operation that America is now degrading with accusations and reductions in funding, and that China has taken steps to suppress at source. That suppression has done nothing to help the country; indeed, by supporting speculation, it may yet harm it.’

Read here (The Economist, May 2, 2020)

Is China winning? Economist special on China & Covid-19

‘China’s rulers combine vast ambitions with a caution born from the huge task they have in governing a country of 1.4bn people. They do not need to create a new rules-based international order from scratch. They might prefer to keep pushing on the wobbly pillars of the order built by America after the second world war, so that a rising China is not constrained.

‘That is not a comforting prospect. The best way to deal with the pandemic and its economic consequences is globally. So, too, problems like organised crime and climate change. The 1920s showed what happens when great powers turn selfish and rush to take advantage of the troubles of others. The covid-19 outbreak has so far sparked as much jostling for advantage as far-sighted magnanimity. Mr Trump bears a lot of blame for that. For China to reinforce such bleak visions of superpower behaviour would be not a triumph but a tragedy.’

Read here (The Economist, April 16, 2020)