Yet, the world continues to race towards developing a vaccine. Covid-19 has been controlled because of the sharp decline in travel, and while semblances of economic activity have restarted, the global economy may not return to pre-Covid-19 normality till a safe vaccine is found.
China may have already won the race. Five of the 10 vaccines that are undergoing Phase Three trials are by Chinese pharmaceutical companies. As it is, the vaccine by a subsidiary of SinoPharm Group Co has already been tested on hundreds of thousands of Chinese themselves. A testament to Chinese confidence is the Golden Week — the one-week holiday in October where reportedly more than half a billion Chinese will be travelling.
Elsewhere, Covid-19 has upended the global order in many ways. China — where the virus is believed to have originated — is seen very much as a First In, First Out economy. The middle kingdom — with a population of over 1 billion — was able to control the spread of Covid-19 with draconian measures. Then again, Taiwan controlled the spread with no Covid-19 cases reported since April. New Zealand, most of Australia, Vietnam, South Korea, and increasingly Singapore are reporting a handful or no cases.
