• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
  • Election 2020
  • Contact
Monday, January 30, 2023
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

China’s vaccines may have ‘appeal’ in developing countries, economist says

2 years ago
in Business, highlights, Home, home-news, latest News
3 min read
0 0
0
36
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Developing countries may face a long wait if they want a vaccine made in the West, but there’s always the option of turning to China , says an economist from DBS.

“Considering the billions of doses needed, and the risk [of] falling at the back of a very long line for Western vaccines, the appeal of the Chinese vaccines is apparent,” Taimur Baig, chief economist and managing director at DBS Group Research, said in a note.

There will be a rush to procure Western vaccines when they’re approved by regulators, and poorer countries may find them unaffordable.

According to Citi, developed countries have collectively secured 85% of total bilateral pre-orders of coronavirus vaccines. Countries such as the U.S., U.K., Australia, Canada, Japan and those in the European Union have ordered supplies that exceed their populations, Citi said.

China has five home-grown vaccine candidates in phase three trials, according to the Ministry of Foreign Affairs. That’s usually the last step before government regulators vet the vaccine for approval.

Sinopharm, or China National Pharmaceutical Group, reportedly submitted an application to Chinese authorities last week seeking approval. The firm has two vaccine candidates, but it’s unclear if both are being considered for regulatory approval.

Beijing has already promised to help countries including Cambodia and Malaysia.

RelatedPosts

Central Bank prime rate hiked by 100 basis points

How to find an executive sponsor to accelerate your professional goals

Bank of Ghana, Finance Ministry commit to zero financing of budget

‘Unconventional’ approach

Based on late-stage trials, Moderna as well as Pfizer–BioNTech announced this month that their vaccine candidates are more than 90% effective against Covid-19.

China has not released much data on the efficacy of its home-grown vaccines, and little scientific information about them is readily available. The state-controlled Global Times this month published a story touting China’s vaccines as “very effective.”

According to Reuters, the country has allowed three vaccines to be given to limited groups under an emergency use program. Nearly one million people have received an experimental vaccine developed by Sinopharm, Reuters reported, citing the company.

Such an approach is “unconventional,” said Dale Fisher, a professor in the National University of Singapore’s Yong Loo Lin School of Medicine.

“It is normal to wait for an analysis of phase three trials before ramping up a vaccine program through emergency use authorization,” said Fisher, who is also chair of the World Health Organization (WHO) Global Outbreak Alert and Response Network. 

Fisher told CNBC in an email that said such a move would be “unacceptable” in the West, but could fast track learning about the virus if there is good surveillance of those vaccinated.

“They will obtain a lot of data doing it this way, but it can be difficult to interpret in the absence of controls,” he added.

Phase 3 trials are best at determining the efficacy of the vaccine and the duration of its effectiveness, he said.

‘Vaccine diplomacy’

Still, Baig of DBS said lower costs and Chinese willingness to provide vaccines add their appeal.

Chinese pharmaceutical companies have relied on older methods than Moderna, Pfizer and BioNTech, which use messenger RNA technology. The latter’s production process is more capital-intensive, and the vaccines need to be stored at extremely low temperatures, said Baig.

Messenger RNA technology, known as mRNA for short, uses genetic material to trigger the body’s own infection-fighting process.

“Hence, [Chinese vaccines] are likely to be cost competitive and logistically easier to handle,” he said.

Additionally, China has signed agreements to test and produce vaccines in countries such as Indonesia, Pakistan and Mexico.

Beijing also joined Covax, a vaccine alliance backed by the World Health Organization, which seeks to grant equal access to all participating countries when a vaccine is developed.

The goal is to provide a lifeline to lower-income countries who would not have been able to afford these vaccines otherwise.

Baig said China needs a “big diplomatic, image-boosting win” in 2021. That could include debt-rollover or partial forgiveness for poor countries.

“But a far wider-reaching move would be to aggressively produce and deliver vaccines worldwide,” he said, adding that the bank expects a lot of “vaccine diplomacy” from China next year .

Source: cnbc
Via: norvanreports
Tags: China Covid-19 vaccineMalaysiaPfizer and BioNTech.Western CountriesWHO
No Result
View All Result

Highlights

Africa transacts nearly $20bn in global payment platforms annually

Debt exchange deal to boost the cedi

Fuel prices expected to jump in February – IES projects

MPC to announce a new policy rate today, will it be 29% or more?

Investing in T-Bills: Investors told to invest with extreme caution

T-Bills oversubscribed by GHS 704m

Trending

Banking & Finance

Central Bank prime rate hiked by 100 basis points

January 30, 2023

Central Bank prime rate hiked by 100 basis points The Central Bank has once again increased its...

How to find an executive sponsor to accelerate your professional goals

January 30, 2023

Bank of Ghana, Finance Ministry commit to zero financing of budget

January 30, 2023

Africa transacts nearly $20bn in global payment platforms annually

January 30, 2023

Debt exchange deal to boost the cedi

January 30, 2023

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-0207794850 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.