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Kevin Sneader, Global Managing Partner of McKinsey, looks at the challenges around a COVID-19 vaccine from the corporate business leadership perspective on Business In 60 Seconds.

What will it take to bring a COVID-19 vaccine to market?

Now, there are reasons to believe that a COVID-19 vaccine can indeed be developed faster than any other in history. For a start, the characteristics of this virus, unlike some families of viruses, coronaviruses overall have been shown to mutate at relatively low to moderate rates. Moreover, the sheer number of development efforts mean that over 275 vaccine candidates in development, with over 45 already in clinical trials. This is coupled with unprecedented access to funding, given over $17 billion has been committed to vaccine development and supply. That said, there are multiple hurdles to overcome. They start with getting the science right, including validating the platform technologies and demonstrating both safety and efficacy. But let's not forget that we also need enough capacity to manufacture and supply in place to reach patient populations now, and over time. And last, but by no means least, people need to be willing to be vaccinated. In the US in May, 72% of Americans said they would get vaccinated. That number has fallen to 51% in September.



The United States and the European Union have comparable population sizes, but until recently the trajectories of their COVID-19 outbreaks in recent months have been vastly different. In what many medical experts are now calling a "third wave" of the pandemic, coronavirus cases are rapidly increasing across most US states, and over 41,000 Americans are now hospitalized with COVID-19. Meanwhile, most European countries are fighting a full-blown "second wave" that has seen the continent's latest average mortality rates surpass those of the US, and led many European governments to implement fresh restrictions to contain the spread of the coronavirus. The current situation is a sharp contrast to the disparity seen over the summer, when US cases were spiking across much of the Midwest and South while European countries seemed to have kept the coronavirus (mostly) in check due to stricter adherence to social distancing and mask-wearing. Here's a look at the seven-day rolling average of new COVID-19 cases, and three-day rolling averages of new deaths and new deaths per capita in the EU vs the US since March.

A decade ago, Bank of America established the Global Ambassadors Program with Vital Voices, and the results are phenomenal. We've provided 8,000 hours of training and mentoring, engaging 400 women from 85 countries and helping women around the world build their businesses.

Carl Bildt, former Prime Minister and Foreign Minister of Sweden, with the view from Europe:

What is happening with COVID in Europe?

Well, we see infections on the rise virtually everywhere. It looks particularly bad at the moment in Czech Republic, in Belgium. Doesn't look good in France and Spain. Neither does it in the United Kingdom, by the way. But it has to be said, it's all over the place. So, we'll see new advice of a rather strong nature by authorities. We see regulation sometimes, we see restaurants closing down earlier, and things like that. Let's just hope for the best. So far, deaths are fairly limited so far.

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Listen: What will the cities of the future look like? Before the COVID-19 pandemic, the answer to that question was clearer: Urban areas around the world were on a trajectory of exponential growth, with 68% of the world's population expected to live in cities by 2050.

It's unlikely the pandemic can dramatically alter that unstoppable trend, particularly in developing nations. But it will no doubt be impacted by the economic and lifestyle changes this global crisis has brought, from New York to London to Tokyo and beyond.

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The United States and the European Union have comparable population sizes, but until recently the trajectories of their COVID-19 outbreaks in recent months have been vastly different. As new daily coronavirus cases continue to rise across most US states — prompting worries of a "third wave" in hospitalization rates — many European countries are fighting a full-blown "second wave" of the pandemic that has brought Europe's mortality closer to that of the US, and led more European governments to reinforce strict measures to contain COVID-19. The current situation is a sharp contrast to the disparity seen over the summer, when US cases were spiking across much of the Midwest and South while European countries seemed to have kept the coronavirus (mostly) in check due to stricter adherence to social distancing and mask-wearing. Here's a look at the seven-day rolling average of new COVID-19 cases, and three-day rolling averages of new deaths and new deaths per capita in the EU vs the US since March.

Ian Bremmer's Quick Take:

Hi, everybody. Ian Bremmer here and welcome to your week. I hope everyone's having a decent Monday. So much talk about. I want to really focus on coronavirus. Still have to think that is the story in the United States and globally. Everything else is second, third place. A very critical driver of the US election, of course, as it should be. The most important crisis of our lifetimes, irrespective of where you place responsibility, accountability, blame. Your view of that has to be a significant driver of how you think about voting.

The numbers are getting worse. Both in the United States, in Canada, in Europe, and in global developing markets, we are seeing larger numbers of coronavirus cases. In part, that is increased testing though, in many states in the US, we still have positive rates well over 10% of testing, which means we're not testing as much as we need to. That is true in the United Kingdom, that is true in other countries as well. I would argue that the numbers that we're seeing are still so much lower than what the reality is in terms of total cases that we've had. The World Health Organization believes at this point that we probably have about 10% of humanity that has gotten coronavirus. In other words, something like 800 million people, about 20 times the total numbers of cases that we are aware of.

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80 million people. That's one percent of the world's total population. It's also the number of displaced people in the world today and the highest number since World War II. And it's a crisis that's been raging long before the COVID-19 pandemic took hold. How did we get here and what we can do about it? The UN's top advocate for refugees, High Commissioner for Refugees Filippo Grandi, has some answers. In fact, his passion for helping the world's most vulnerable has come at a cost. He recently tested positive for COVID-19 himself.

Watch the episode: UNHCR chief: How the pandemic has upended the lives of refugees

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