Although several months have passed, it is still difficult to understand the extent and depth of COVID-19 global impact. One third of the world's population is estimated to be under some kind of blockage. Nearly 200 countries have been affected, and the number of new cases and deaths in many countries continues to rise exponentially. Throughout this time, a second crisis is unfolding, in the form of an economic recession.
We all want to get out of this crisis as soon as possible. But eager to resume social and economic life, to do so we need to focus on public health. Cooperation between governments and business is our best chance.
While governments and companies that have "bent the curve" can carefully launch initiatives to reopen parts of social and economic life, companies must temporarily forget their competitive interests, and must work together to ensure that the vaccine is most effective. be able to develop as quickly as possible and start the necessary production on a large scale. It is the only real way out of this crisis.
We can't wait to get rid of it, so the biggest question is: How long should the blockages last, and when should we gradually remove them?
They can be summarized in two strategies to prevent further epidemic growth: The first is serological testing, i.e., looking for specific COVID antibodies in the general population. By doing this, we can monitor which part of the population has been in contact with the virus and is already potentially immune.
The second is to conduct reliable rapid antigen tests to quickly diagnose those carrying the virus (with minimal or asymptomatic symptoms) and to track contacts through application technology to quickly identify infected people who may be infected. quarantined to prevent further spread.
For governments and businesses, combining the two strategies may be their best chance for the economy to move forward again. Recovery will begin - first with the opening of schools, workplaces, shops and restaurants - seeing the conditions in each country one after the other. But once the best practices become clear, countries need to be willing to learn and coordinate with each other.
Ultimately it should be clear: the only long-term strategy to eradicate this virus is a drug or vaccine COVID-19. There are at least a dozen candidates being tested in vitro and animal models. It will take several years to bring one or two of them to market. Given this fact, we should not plan a full economic and social recovery within a year.
Meanwhile, we need to make substantial changes to our economic system. To prevent an economic collapse, governments will have to take on large and unparalleled roles in ensuring the continuity of business and jobs.
The public debt that will accompany this will have to be borne by the strongest shoulders: the companies and individuals most capable of paying taxes must afford it. The essential principle, which we will all have to agree on, is that we are all in this pandemic, together. We have faced severe crises before. But if we want to get out of this volatile situation in the long run, we need to plan with unprecedented cooperation in the short term. / TIME
Schwab is the founder and CEO of the World Economic Forum;
Vanham is a professor of virology at the University of Antwerp
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