Excellent reporting @FT on #Pfizer. It is as wrong to demonise as it is to lionise the company, set for revenue of USD 80bn (!) this year. No private co. sd be able to dictate to governments as Pfizer has.
Oddly the article doesn't mention patent waivers.
1/3 Image
I'm sceptical that a patent waiver will quickly resolve shortages in low-income countries, & concerns about longer-run negative effects are serious. But it is the lever to ensure the pharma co.s behave responsibly. e.g. 1:1 #COVAX donation for hi-income-country sales.
2/3 Image
An absolute minimum is that the vax companies have to be more transparent about their order books and sales policies.
There is also the separate but related issue of how and where the revenue streams and profits are taxed.
3/3
PS If you find yourself on the wrong side of a paywall, try registering with the FT for limited access:

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More from @AndrewWattEU

25 Nov
It’s out: the coalition agreement of Germany’s traffic-light coalition.
wiwo.de/downloads/2783…
All of 177 pages covering everything with what to do about Russia to what to do about wolves. (yes, really).
What’s in it for Europe?
Thread (w/ focus on economic issues).
1
A first point is just how pervasive Europe is. “EU” or “europ” is mentioned no less than 393 times! Scarcely a policy area that does not somehow involve Europe. 🇪🇺 is domestic politics. It is also a testament, tho, to an (ex ante) willingness by 🚦to engage w/ EU partners. 👏
2
EU structures: 🚦 commits to supporting the Conference on the Future of Europe – including “Treaty amendments where needed”. A right of initiative for the EP, transnational lists and “Spitzenkandidat”, QMV in foreign policy. Steps on a path towards a "European federal state".
3 Image
Read 18 tweets
5 Jul
As 🇩🇪💉campaign loses some momentum, an anxious question arises: is this due to greater than expected resistence to getting a jab? And will vax rates that could realistically be achieved be enough to limit the public health risks?
@rki_de looks at both Qs & ... is confident
1/
There is a lot of detail in the report, but the key message on needed vax rates - in most cases: 2 shots - is:
90% coverage of the <60's is needed.
For 12-59 year-olds there is a huge difference btwn 65 & 75% coverage. Above that the effect is smaller.
(>12 assumed = 0).
2/
For a baseline scenario (a set of plausible assumptions including seasonality, role of delta etc.) the fig. shows the modelled incidence (cases /100.000pop, 7 days). Above 85% the additional protective effect is marginal. The figure for hospitalsiations has the same form.
3/
Read 9 tweets
5 Jul
.@SDullien & @KatjaRietzler have a paper out showing the scope for expansionary fiscal policy in Germany if the debt brake - which, stupidly, has constitutional status - were relaxed in various ways.
As this is relevant for the 🇪🇺 debate, a few key takeaways in EN.
1/7
Keeping it simple, we'll just look at the total additional nominal fiscal marge de manouvre for the period 2023-30 (without feedback effects) opened up by 5 options.
2/7
Setting up a state-owned entity to borrow 1% of GDP for public investment a year would not need a change in the 🇩🇪 constitution. It creates fiscal space of €56bn with unchanged EU fiscal rules. If these are relaxed in the direction of a golden rule, that space quadruples.
3/7
Read 7 tweets
5 Jul
🇩🇪💉 update 5 July & review calendar week 26
Slowdown continues - but ?-mark over corporate doctors
With the figures reported for Friday & the weekend once again down on the previous week (b4 revisions), the 7-day ave continues to slide, and is now only a touch above 700k.
1/5
The sharp fall-off in 2nd 💉is barely offset by a renewed increase in 1st doses.
Last week saw the first decline under 5m doses for 4 weeks. (Revisions might be enough to change this, & see 4&5/5.)
On the face of it, 🇩🇪 campaign is returning to May vax rates.
2/5
With vaccine supply still buoyant, the share of delivered doses that have been injected in upper arms falls substantially (by 1%point) to 87.3%.
This means 11 1/4 million doses are unused - or, perhaps better, unaccounted for.
3/5
Read 5 tweets
2 Jun
The EU Commission @PaoloGentiloni has just issued a communication on EU economic policy and its coordination - the fiscal rules and those governing so-called macroeconomic imbalances.
ec.europa.eu/info/system/fi…
Mostly light, but some shadows.
Thread 👇
1/n
I'll look quickly in turn at
- Next Generation EU
- the (suspension of the) fiscal rules
- monitoring of macro imbalances

2/n
NGEU
Not much new here. COM welcomes the fact that all MS have approved the increase in own resources & almost all have submitted recovery plans. The borrowing-and-disbursing process can begin following COM plan-approval and endorsement by the Council (within 1 month).
3/n
Read 15 tweets
2 Jun
It is great to see #Vietnam moving up the value chain and developing its own tech, selling it in foreign markets.
OTOH selling hi-end EVs to Americans seems an odd focus. And not just for the reason cited here: it might be a costly failure.
1/4
🇻🇳 ppl currently rely overwhelmingly on motorbikes for private transport, but cars are increasingly common as the middle class expands . Trade agreements are also leading to cuts in hi import duties. Congestion and air pollution are huge problems in urban areas.
2/4
At the same time🇻🇳 has gr8 potential for solar and wind power.
It could become a world leader in electric motorbikes & small affordable EVs. These cd be exported but wd more importantly address pressing domestic economic & ecological development issues.
3/4
Read 4 tweets

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