- This daily round-up brings you a selection of the latest news updates on the COVID-19 coronavirus pandemic, as well as tips and tools to help you stay informed and protected.
- Top stories: Moderna vaccine trial is encouraging; European stimulus boosts exchange rates; new book examines what a Great Reset might look like.
What is the World Economic Forum doing about the coronavirus outbreak?
Responding to the COVID-19 pandemic requires global cooperation among governments, international organizations and the business community, which is at the centre of the World Economic Forum’s mission as the International Organization for Public-Private Cooperation.
Since its launch on 11 March, the Forum’s COVID Action Platform has brought together 1,667 stakeholders from 1,106 businesses and organizations to mitigate the risk and impact of the unprecedented global health emergency that is COVID-19.
The platform is created with the support of the World Health Organization and is open to all businesses and industry groups, as well as other stakeholders, aiming to integrate and inform joint action.
As an organization, the Forum has a track record of supporting efforts to contain epidemics. In 2017, at our Annual Meeting, the Coalition for Epidemic Preparedness Innovations (CEPI) was launched – bringing together experts from government, business, health, academia and civil society to accelerate the development of vaccines. CEPI is currently supporting the race to develop a vaccine against this strand of the coronavirus.
1. How COVID-19 is affecting the globe
- Confirmed cases of COVID-19 have risen to 13.3 million around the world, Johns Hopkins University of Medicine says. The number of confirmed coronavirus deaths now stands at more than 578,000.
- Early results from a vaccine trial in the US are showing signs of success. The mRNA-1273 vaccine, made by Moderna, was found to trigger safe immune responses and “no serious adverse events” in 45 participants.
- India recorded its highest single-day spike of 29,429 confirmed cases, the country’s Health Ministry is reported to have said. There were 582 deaths in the same period.
- Kenya too is experiencing record levels, with 12 deaths and 10,294 cases confirmed in the same 24-hour period. The country’s capital, Nairobi, has been locked down and there are night-time curfews in place.
- The US also continues to see record numbers – with 132 confirmed deaths reported in Florida on 14 July.
- Can COVID-19 be transmitted in utero? This case in Paris suggests it can. A baby delivered by emergency C-section tested positive for COVID-19. High levels of the virus were found in the mother’s placenta.
- The UK economy appears to be limping out of the COVID-19 slump. GDP collapsed by 20.3% in April and has now risen by just 1.8%, which is below expectations.
2. Euro hits four-month high against US dollar
The euro rose to its highest value against the US dollar in four months. Reaching $1.1423, the currency also hit a one-month high of 122.47 against the yen.
“Germany, France and Italy have all taken severe lockdown steps and as a result, the coronavirus now appears to be under control. The economy could be gradually recovering,” Bart Wakabayashi, Tokyo Branch manager of State Street Bank and Trust told Reuters.
The European Union is expected to agree on the terms of a package of economic stimulus measures that will help lift the region’s economies out of a pandemic-induced slump.
It’s an anticipated move that is bolstering confidence in the currency, pushing it up to its highest levels since 10 March.
3. COVID-19: The Great Reset: The first policy book on the coronavirus crisis
Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, and Thierry Malleret, Managing Partner of Monthly Barometer, have published a book titled COVID-19: The Great Reset.
As well as macro-level analyses of the pandemic's impact on economic, societal, geopolitical, environmental and technological sectors, the book considers the crisis from a more personal perspective - how individual businesses and people will be disrupted, and what should they do. And as part of the Great Reset, it considers what a post-pandemic world might look like.
“We are at a crossroads", the book says. "One path will take us to a better world: more inclusive, more equitable and more respectful of Mother Nature. The other will take us to a world that resembles the one we just left behind – but worse and constantly dogged by nasty surprises. We must, therefore, get it right."