by Last week, the Biden administration asked for a global waiver on vaccine intellectual property protections. What is this waiver? Why does it matter? And why did Biden stand up to big pharma? Unless Covid is brought under control, if could near bankrupt the rest of the world, with much of the cost falling back on the United States, but Big Pharma only cared about its bottom line. Even the Biden administration thought letting neoliberalism run amok was too much in the middle a global pandemic. But there are other reasons why Biden took the decision he did - see below. There are two reasons the administration then supported the waiver. The first is that the Biden administration really does not want Covid variants to return and force another lockdown. The second is, geopolitics, and ‘vaccine
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Last week, the Biden administration asked for a global waiver on vaccine intellectual property protections. What is this waiver? Why does it matter? And why did Biden stand up to big pharma?
Unless Covid is brought under control, if could near bankrupt the rest of the world, with much of the cost falling back on the United States, but Big Pharma only cared about its bottom line. Even the Biden administration thought letting neoliberalism run amok was too much in the middle a global pandemic. But there are other reasons why Biden took the decision he did - see below.
There are two reasons the administration then supported the waiver. The first is that the Biden administration really does not want Covid variants to return and force another lockdown. The second is, geopolitics, and ‘vaccine diplomacy.’ China’s vaccines, which use traditional methods, are not as effective as the mRNA treatments, but they exist. And China is sending its vaccines to more than 80 countries, with Russia also pushing its influence through its own effective vaccine. These countries are, rightfully, making a big deal of how the U.S. isn’t doing any exporting, and generating leverage as a reliable partner when the West is absent.
As a result, the traditional calculation within the U.S. government changed from pro-pharma to anti-pharma. The people in charge of money and guns took the progressive position, because the progressive position was a way to counter Russian and Chinese vaccine diplomacy, and to keep the economy free from a renewed pandemic threat. Treasury and State Departments, the National Security Council, and the National Economic Council, all supported the waiver. So did the United States Trade Representative Office, led by Katherine Tai, who made the final case to Biden.
(As an aside, I worked on the Hill for six years, and USTR was always the center of corporate power in government. For USTR to go against pharma is truly the world turned upside down.)
Matt Stolller - Why Joe Biden Punched Big Pharma in the Nose Over Covid Vaccines