Is there really a vaccine apartheid in Africa?

 Is there really a vaccine apartheid in Africa?

The podcast I listened to was a discussion with Dr. Richard Mihigo from the World Health Organization on the vaccination situation in Africa. Around 40 million Africans have received both doses of the covid vaccine – which is barely 3% of the continent that is home to 1.3 billion people. The number of people vaccinated is not enough to make a huge difference in covid cases.

Vaccines need to be supplied to more developing nations to prevent deaths that are a result of a limited supply [of vaccines]. Western countries focusing on their populations is understandable, but this disease is not contained within borders, and we can see that with the global spread of the virus. Getting more people vaccinated will help provide herd immunity across the globe and prevent any further mutations of the virus from developing.

Co-Vax was a scheme created to help get vaccines to poorer countries. From my understanding, this is not happening because Western countries are ready to administer booster shots when a large population in the developing world has not received a single dose. This is not helping prevent the spread of the virus or protect most of the world’s population. World health leaders need to focus on getting everyone around the globe fully vaccinated, before administering booster shots to already vaccinated individuals.

African countries have had to rely on other nations to provide vaccines and PPE (personal protection equipment throughout the pandemic. This reliance has led to discussions amongst health ministers across the continent about manufacturing vaccines on the continent in a bid to reduce dependency on other countries. Manufacturing vaccines on the continent would allow African countries to make their own COVID vaccines, and any other vaccines the continent may need. Morocco and Egypt are the first African countries to make such vaccines.  

According to Dr. Mihigo, the WHO projects that by December 2021 30% of the African population will be fully vaccinated and by next July 60-70% of the population will be vaccinated. With the current rate of funding and infrastructure, this goal can become a reality.

  Source: https://open.spotify.com/episode/73nqMPoX0xYon2Nj1fpgzg?si=3Jfe2mRIRNekQEmxuGQ8ig&dl_branch=1&nd=1

China to provide Afghanistan with $31 million worth of aid

 In recent news, it was announced that due to the increasing poverty, lack of food, and major upheaval in Afghanistan, China would be willing to provide aid to the new state. The formal amount of this aid is 31 million dollars, in the form of food, winter weather supplies, medicine and covid vaccines. This was announced by China's Foreign Minister this past Wednesday.

This aid is being provided in cohesion with China's previous statement regarding their commitment to providing lower income countries with COVID vaccines, for which Afghanistan was already in the priority line, pre-Taliban takeover. Additionally, the Chinese government has continuously also spoken about how the United States should follow through with providing the Afghan people with aid as well, and in fact, should be the first to do so. They claim that the US should "assume their responsibility" as well.

China has also pledged to support Afghanistan in the country's peace, reconciliation and reconstruction process. In return, the Taliban have vowed to draw a clear line with terrorism at the Chinese border or with other neighbors such as Pakistan, Iran, Tajikistan, Turkmenistan and Uzbekistan as well. 

The US Economy is Weakening

      The coronavirus pandemic has ravaged businesses and economies around the globe. Many businesses have gone under due to a lack of staffing and many other regulations being unable to be followed. We have recently seen a new variant, the delta variant, really damage some businesses as they are just beginning to open up again. In August of 2021, job growth in America was terrible. This is demoralizing not only to the American people but also our economy as we were just beginning to dig ourselves out of the COVID-19 hole.

    We see a problem in businesses reopening as they cant find low-wage workers to staff. This leads to understaffing which leads to closing sooner which is less money for the business. This unfortunately doesn't look like it is going to change any time soon either. Some Americans have refused to get vaccinated along with refusing to get masks, now that the summer is over cold weather is coming leading many activities and meetings to be indoors in closed spaces, making the virus more susceptible to spread.

    The US economy is struggling and the job market is the source of it. Almost everywhere you go out to eat you see a hiring sign. Many restaurants are even offering higher wages but this still doesn't seem to work. Once jobless Americans begin to start working again, we will see a boost in our economy. Businesses will be open longer allowing them to make more money, also paying employees money in order for them to spend more money. This is a big issue we face right now that Americans aren't pouring much money into the US economy due to unemployment.

link: https://www.cnn.com/2021/09/08/opinions/economy-weakening-goldman-sachs-covid-filipovic/index.html

China Cracks Down, Claiming it is For the People, or So They Say

It is no secret that China has been a socialist country since the end of World War II. The government has been making all of the decisions and giving the people of China virtually no say. Just in the last week or so China has unveiled a "Rejuvenation" campaign. The main goal of this initiative is to revive revolutionary ideals. To achieve the goal of his campaign, President Xi seems to be creating a strict and tightly structured society based on his own ideals. 

One of the hot topics around the world is the new restriction that China has imposed on kids under the age of 18. Kids now only have three hours of online game time a week that is to only be used on Friday through Sunday. President Xi's goal of this restriction is to focus the efforts of the Chinese society, even the youth, onto advancing China as a whole. One of the main ways that they are enforcing this is through the gaming companies. These companies are eager to stay on the good side of the Chinese government and have already begun to enforce these new restrictions on gamers. 

As part of China's crackdown, they are now making restrictions for who can be on TV. The main group of focus is on "sissy men" as the Chinese government calls them. Sissy men are men who are deemed as "insufficiently masculine." The government has now banned all of these men from appearing on TV to promote a "revolutionary culture" that President Xi is looking to achieve.

China is looking to close the income gap in the country. The government is relying on companies to help with this. Some of the large companies such as Alibaba and Tencent have already pledged billions in creating new jobs at the governments request. These large companies, like I mentioned earlier, are looking to stay in the good graces of the Chinese government.  These companies rely heavily on the Chinese workforce and on the consumers in China. For economic reason, they need to stay in the good graces of the government. They do not want to have to leave the country with so many available workers which allows them to pay them a lower wage. In addition to that, with the Chinese government having the final say in all matters, it is imperative that they stay in their good graces which might allow them to have fewer restrictions put on them. It is vital for the companies success. 

Article Link: https://www.usnews.com/news/world/articles/2021-09-07/china-chases-rejuvenation-with-control-of-tycoons-society

India sees 20% GDP growth, way over previous predictions, but does it matter?

News outlets are increasingly posting articles about massive growths in GDP in many nations. One such article is about a 20% growth in India's GDP year over year in 2021, which is much higher than what economists predicted, even between February and April, when times were better before the second wave of the virus. However, many news outlets are claiming this to be a good indicator and international organizations are supporting this view.

When a previous fiscal year saw a recession, it does not make sense say the economy grew better than the previous year. Instead, a better indicator would be to compare growth using 2019 data, i.e., April-June 2021 vs. April-June 2019 GDP growth rate. This comparison would tell us that India's growth rate is 9.2% lower than what it was in 2019 during those months.

Although, from another point of view, the praise of India's growth rates makes sense. India has seen the highest growth rates in the world over the past year and a near-perfect V curve that suggests the economy has returned to the state it was in before the 2nd wave in a very short time. These perspectives justify the praise India's 20% growth rate.

Additionally, measures like record breaking vaccinations, leasing of national assets to raise an equivalent of $81.9 billion, and continuing major infrastructure projects that employ hundreds of millions of daily-wage laborers, and many others providing a ray of hope for an improving economy, rising up better after devastation.

With current figures of growth over past year, economists and international organizations, including the IMF, are predicting much better growth rates than what they previously predicted. It is remaining to see whether India will live up to those claims, especially when on one side, until a few weeks ago, it was predicted India will face the deadliest third wave of the delta plus variant of the virus, and on the other side, recently, it is predicted India is entering an endemic stage, like the flu in the US, where it just exists like a regular disease contained within India.

Link to article: https://www.nytimes.com/2021/08/31/business/economy/india-economy-covid.html

The Taliban Controls The Afghan Economy. Now what?

 The Taliban Controls The Afghan Economy. Now what?

With the recent take over of the Afghan government by the Taliban, the world is wondering how they will handle the $20 billion economy. Prices are already increasing for everyday citizens, and sanctions will only increase on the Taliban. About 3/4 of Afghanistan's budget comes from the United States and other foreign aide. Now that the Taliban has regained power, all the money from the United States and others, about 7-8 billon, is frozen. 

Afghanistan also relied on shipments of American dollars for liquidity in the economy. The previously set sanctions have also stopped those shipments which means that those who want to get money from the recently reopened banks might not be able to. The driver of the economy is the informal money exchange system, hawalas, and they are also running out of dollar bills. 

Last year it was reported that about 90% of Afghans live below the poverty line. The main question is how is the Taliban going to boost an economy that relies mostly on foreign aide? Afghans are already living in poverty and without the funds from foreign countries, the Taliban won't have enough resources to care for the people of Afghanistan. It is also important to note that if the Taliban wants to take women out of the workplace, it will only make Afghanistan's economy fall faster and harder. Time will only tell if the Taliban can take on the responsibility of a 20 billion dollar economy without budging on their principles.  

Should bitcoin be used as currency?

On Tuesday, September 7th, El Salvador announced that the country will be recognising Bitcoin as an official currency. El Salvador is known to have $26 million in bitcoin.

President Bukele came to this decision so that 70% of Salvadors who don't have access to 'traditional financial services can take advantage of bitcoin and use it to their convenience. Bukele also argues that this decision was important to make advancement in the world and keep up with times, as quoted, Bekele said,  " El Salvador has the right to advance toward the first world". This decision will also make it easier for El Salvador nationals who live abroad, to easily transfer money for their families. 

While Bukele was able to support his decision for these reasons there was some backlash. Civilians were not too excited about it. Jesuit college posted poll results showing that 67.9% of the population disagreed with the governments' decisions. Many people reported that they did not know enough about bitcoin and did not know how to use it. The US embassy in El Salvador disagreed with this government's decision and said it "undermines democracy."  

Bitcoin is valued higher with each passing day. Hence, using it as currency can cause spending surges which will result in a fluctuating and unpredictable economy. Keeping that in mind, is El Salvador keeping up with the times or causing an economic tragedy?  

Source

Job openings soar to 10.9 million as companies struggle to fill positions

 US companies are struggling to fill a record number of vacancies. Job Openings are at an all time high coming in at 10.943 million open jobs. Job openings outnumbered the unemployed by over 2 million in July. The rate of Job Openings measured against the total labor force is at 6.9% in July which is 2.3% higher from July 2020.

Certain job fields are getting hit harder than others. The hospitality field (food, beverages, travel and tourism, lodging, attractions, and recreation) which suffered the most during the pandemic had 1.82 million job openings which is an increase of 134,000 jobs from June. This is thought to maybe be a cause from the new Delta Variant which is causing a surge in the covid-19 cases. The financial job field is another job field getting hit harder than others. The finance field job openings measured against the amount of people in the labor forces raised to 5.8% from 3.8% which accounts for over 200,000 jobs. Additionally government jobs rose to about 4.6% from 4.2%accounting for about 100,000.

We also look at particular regions that are having a harder time finding workers than others. The south who have been hit harder with covid-19 than any other region is also having the hardest time with job vacancies. Their job openings measured against the amount of people in their labor force is at the highest at 7.1% which is a 226,000 job increase from June. The northeast rates are at 7% which is an increase from 6.2%.

Although we are finding job openings at an all time high the heiress rate this last month actually decreased. It decreased to 4.5% from 4.7%. Could this be an outcome of the new delta variant or caused by people not having the right skills to fit the job openings?

There are many reasons that there are many job openings across the US. Many people believe it has something to do with the unemployment benefits while others believe it has to do with the fear of covid-19 itself. Another cause of the job openings is the lack of skilled workers needed for the jobs. Hopefully in the coming months we will see a decrease in job openings and unemployment.

Link: https://www.cnbc.com/2021/09/08/job-openings-soar-to-10point9-million-as-companies-struggle-to-fill-positions.html

Walmart raising wages at least a $1 an hour for more than 565,000 store employees

 Since founded in 1962 Walmart has been one of the largest corporations in the world employing more than 2 million people today. On September 2 Walmart announced “Walmart is raising the pay for more than 565,000 store employees. This is helping support what many people have been asking for with raising the minimum wage. “The investment means that over the past year, we’ve raised pay for approximately 1.2 million hourly associates in our U.S. stores, increasing our U.S. average hourly wage to $16.40.” Walmart has seen few repercussions because of this decision because most people are in favor of increasing the minimum wage... Walmart has had cost inflation because of this, but during this pandemic time what company has not increased their prices? 

One more thing that Walmart announced is that like Starbucks “Walmart announced in July it will pay for college tuition and books for its part-time and full-time associates at a group of schools.” This is very important because the number one reason people do not go to college is due to how expensive college is. College is very beneficial, even if you think you are not learning a lot, getting a degree from a college is a good signal for companies to hire you. Statistically speaking a person with a bachelor's degree will make more money than a high school graduate and an associate's degree, and have a lower chance of being unemployed. People may not like being in college but from a wealth standpoint, it helps. With Walmart helping pay for college this opens the doorway for some people to change their lives and get a degree they might have not been able to get before which is far more valuable than a small raise. Other benefits of attending college include you are more likely to volunteer or donate to charity. Walmart is not just raising people’s current economic status by increasing minimum wage, but also putting them on a future path for upward mobility. 

Credit: https://www.usatoday.com/story/money/shopping/2021/09/02/walmart-pay-raise-2021-store-employees/5700722001/

Jobs report disappoints — only 235,000 positions added vs. expectations of 720,000

 URL: https://www.cnbc.com/2021/09/03/jobs-report-august-2021.html

The Labor Department reports the number of new jobs and unemployment which was recently released on September 3rd. This article touches on the lack of jobs being produced that were categorized as "nonfarm payroll". It was expected to be approximately 720,000 new jobs, however it increased by only 235,000. The estimate of 720,000 new jobs was estimated by Dow Jones. The article goes on to talk about how the unemployment rate dropped from 5.4% to 5.2%, which was within their estimate. However, it is important to consider that the measurement of rate of unemployment is not always "telling the entire story", if you will. This could account for people dropping out of the work force as discouraged workers because they cannot find a job. This would decrease the rate of unemployment.

Further in the article, it breaks down the unemployment rate and jobs for different industries, indicating that leisure and hospitability jobs have stalled in August as the unemployment rate in the industry when to 9.1%. It analyzes and described the assumptions and hypothesizes as to why each labor market had a decrease/increase in jobs and a decrease/increase in unemployment rate. It also touches on some of the measurements regarding changes in wage and discouraged workers.

The article states that this new total of new jobs, or the lack thereof, comes as a concern because it could "cloud policy for the Federal Reserve" which is trying to determine whether to pull back on some of the stimulus it had been adding since early 2020. In my opinion, the Fed should begin to pull those stimulus dollars away. As we mentioned in class, there are many workers who are getting paid more on unemployment and the stimulus checks than they ever were while working in the workforce. This does not encourage people to look for jobs and join the labor force. Without the contributions of workers, GDP can slow down or continue to be low which will not allow for the economy to recover. What is your opinion about the stimulus?

**Please note that I am not trying to make this into a political debate. I am not VERY well versed in all topics that are of concern in politics today. I am sharing my opinion based on what I know and have read and researched**

Labor Shortage Leaves Union Workers Feeling More Emboldened

    Ever since the 2008 financial crisis, companies have commanded an upper hand in terms of decisions of pay raises and fringe benefits for their workers. But the table has turned.

    Despite an unexpected slow job growth (only 235,000 jobs were added) reported by the Labor Department, the U.S. economy is recovering. The unemployment rate fell to 5.2% and wages across the nation rose at a 4.3% year-over-year clip. As the economy steadily grows out of the pandemic recession, there has been a spike in the shortage of workers in many industries, which results in gaining leverage for union workers in negotiations with companies.

    Many workers managed to negotiate a good pay rise. For instance, the workers at Volvo, a multinational manufacturing company, were able to have a 12% pay gain. Also, lower-paid workers who have been seen as supportive of a middle-class lifestyle such as waiters and bartenders in the leisure and the hospitality industry were able to benefit from the labor shortage, and now they are a step close to the middle-class lifestyle themselves.

    Moreover, there has been an increase in interest in union memberships recently. Although the scale of organized labor strikes and the size of unions are still not comparable to its influential past, it is still significant considering the fact that union membership has been decreasing for years.

    The growing demand in the labor market is not the only reason that the union workers are gaining bargaining power and financial security. The long-been-growing frustration among working-class Americans over wages has come to a breaking point, which served as a stimulator for changes. In addition, the Biden administration has also made its contribution by appointing a more worker-friendly National Labor Relations Board to settle disputes with employers.

Credit: 

https://www.usnews.com/news/business/articles/2021-09-06/labor-shortage-leaves-union-workers-feeling-more-emboldened

Wildfires are putting water supplies at risk, and corporate America is scared

 Climate change has been at the forefront of many peoples’ minds the past couple of years. In Western America, specifically California, because of climate change wildfires have taken a toll on the environment, damaging millions of acres of forests while also increasing a threat to the state's water supply. “The water supply for many communities, including large cities, starts in mountains and national forests. In California, about 70% of the water either starts or flows through national forests, according to Forest Service estimates.” With a serious threat to a state's water supply action needed to be taken that's why “Two years ago, the nonprofit Blue Forest Conservation organization launched the first-ever Forest Resilience Bond at $4 million”. While the return on the investment is seen as low, about 4% versus roughly 10% average return on stocks, I see this as a necessary investment because if we are not careful water in America could become scarce. 

Companies have just now become interested in investing, “In the technology sector, for instance, many data centers, which need water to cool the banks of computers running inside, are in water-stressed areas. For other product manufacturers, water is crucial to every aspect of the process.” Is it acceptable to solely invest to help save the forests just because the forest burning derails business operations? Should the government implement a higher tax in order to help restore these forests? America has one of the lowest tax rates of highly developed countries, one major department our taxes go to is towards Medicare and Medicaid. We put so much money into health programs and neglecting environmental programs, but as seen in this article if people neglect environmental problems too much we may lose access to clean drinking water. More money needs to be allocated to help areas that have been affected by wildfires and to help prevent future wildfires for the safety of the people. 

Credit: https://www.cnbc.com/2021/09/02/companies-investing-in-forest-protection-to-secure-water-supplies.html