COVID19 outbreak out of control stems from Economic Crises
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COVID19 outbreak out of control stems from Economic Crises

The current crisis requires global cooperation and the free flow of goods and services

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COVID19 outbreak out of control stems from Economic Crises

With the global outbreak of COVID-19, President Trump signed the $ 2 trillion Relief and Economic Security (CARES) bill on Friday, which requires the National Academy of Sciences, the Academy of Engineering and Medical Sciences, research reports to medical Supply chain security. Policymakers can use the report to decide whether and how the United States diversifies its medical supply chain, including its dependence on Chinese manufacturers.

White House trade consultant Peter Navarro set his sights on the massive disruption of the medical supply chain. Navarro pushed for a draft, which was obtained by the Daily Beast. These include curbing imports of foreign goods and increasing research and development in the production of US drugs, raw materials, and vaccines. These policies were based on the false promises of economic nationalism, which was exposed as superficial.

The current crisis requires global cooperation and the free flow of goods and services to fight the epidemic. It will be irresponsible to use this crisis to drive a major shift in medical supply policy. Trade experts accuse President Donald Trump of politicizing the flu pandemic and continuing a trade war against China. In the face of a CNN reporter's television interview, in order to conceal the disadvantages of the government 's response, Peter Navarro dumped the epidemic situation and material problems to the former President Obama, who has been in office for more than four years. The CNN anchor thought that he wasting time could not solve the problem.

Representatives from the (FDA) and other trade officials objected to Navarro, saying that administrative orders restricting the circulation of medicines and other supplies needed to treat coronavirus would not help fight the epidemic. Navarro found himself playing an indispensable role in tackling the large-scale global epidemic, which illustrates the extent to which economic issues have guided the president's response to the crisis. However, there is little uniform decision within the government on how to do it. In addition to his role as a trade policy adviser, Navarro has shaped himself as a firm and pragmatic Trump loyal supporter in the government, even secretly looking for "anonymous". For many years, he has been accustomed to being The personal and ideological siege within Lampe's government is due in part to the president's special personal feelings towards him. As everyone knows, President Trump calls Navarro "my Peter."

Other senior Trump deputies, such as Treasury Secretary Steve Mnuchin and White House Economic Adviser Larry Kudlow, have also expressed internal opposition to the Navarro plan. White House and Treasury official Tony Fratto during the presidency of President George W. Bush regarded the proposed policy as "wrong" and posted on Twitter that "the pandemic is global." We need to strengthen cooperation.

In response to growing demand for medical supplies, governors across the country have stated publicly that they need thousands of additional masks, protective clothing and gloves, and reducing foreign supplies could make the situation worse. Michael Moore, a professor of economics and international affairs at George Washington University, said: "There is no reason to do so now." "When we are in a health crisis, there is no long-term economic benefit to not allowing medical supplies to enter.

According to the Peterson Institute for International Economics, about half of the personal protective equipment imported in the United States is imported from China, while certain items account for a much higher percentage: 70% of mouth and nose protection equipment and 57% Goggles and goggles. In addition, 45% of US protective clothing imported from China and 39% of gloves come from China. Peter Petri, a professor of international finance at Brandeis International Business School, said: "We now need personal protective equipment in China, ventilator, and many more." The United States does not manufacture all these equipment. Required supply chain and manufacturing capabilities.

A new report by the Global Trade Alert, Simon Evenett, states that as of March 21, 54 countries have imposed export restrictions on medical supplies. For example, the European Union has announced export controls on certain medical devices.

History has proven this to be a mistake: The United States imposed tariffs on Smoot-Hawley at the beginning of the Great Depression, which has revived and exacerbated global nationalism as the world trading system collapsed.

Experts say there are hundreds of thousands of ventilators in the United States, which are far from enough to treat the rapidly growing number of patients with COVID-19. New York, Michigan, Louisiana and Washington are all working to treat patients. As of April 3rd, more than 240,000 coronavirus cases and more than 6000 deaths have been confirmed in the United States.

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
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