G-7 – the Group of Seven countries’ leaders brought pledges to share coronavirus vaccine doses and make a reasonable international economy to a summit in England, where U.K Prime Minister Boris Johnson said the COVID-19 pandemic should not allow leaving a lasting mark on the world. Furthermore, the leaders of wealthy nations were all cheering as Johnson greeted them on the recently gathered sand of Carbis Bay, but they pushed over was doing most to help the low-income nations of the world to fight coronavirus.
G-7 nations gather to pledge 1B vaccine doses for world
World leaders from the Group of Seven industrialized nations are set to commit at their summit to share at least 1 billion coronavirus shots with struggling countries around the world — half the doses coming from the U.S
— BigDaddy (@strujillo075) June 11, 2021
Recovery from the COVID-19 pandemic dominated their talks, and the wealthy nation’s club committed to share and donate at least one billion doses with poorer countries struggling to fight the outbreak. The decision also includes a pledge from the American President Joe Biden to share five hundred million vaccine doses and a pledge from Boris Johnson for another hundred million shots. The United Kingdom said that the Group of Seven countries would also announce a series of positive actions intended at reducing the chances of another pandemic.
100-Day Goal to Develop COVID-19 Vaccine
Britain’s government said the Carbis Bay Declaration would intend for a hundred-day goal to develop coronavirus vaccines, diagnostics, and treatments for future disease and boost surveillance and observation for the new wave of the pandemic. Furthermore, the G-7 pledged to strengthen the World Health Organization (WHO), which former U.S. President Donald Trump withdrew his country, and Biden rejoined. Opening three days of discussions in Cornwall, England, U.K. President warned that world leaders must not repeat mistakes made during the last one and half years – or those made in the recovery from the global financial crisis of 2008.
World Leaders Should Learn from the 2008 Global Financial Crisis
Johnson adds that the world leaders must not repeat the mistake of the huge past crisis, the last great economic collapse in 2008 when the recovery was not uniform across all areas of society. The leaders of the G-7, including France, Germany, Canada, Italy, Japan, the United States, and the United Kingdom – hope the discussions at the resort will also energize the international economy. Moreover, the White House said that French President Emmanuel Macron and Biden discussed coronavirus and counterterrorism efforts and would have a meeting on Saturday.
Around 3.7 million died globally because of the pandemic; the wealthiest nations of the world are keen to show themselves the champions of the afflicted. Angela Merkel, the German chancellor, said she hoped the G-7 summit would show the whole world that they are only thinking of themselves. Macron wanted to highlight that France already shipped coronavirus vaccine doses to the world’s developing countries – and gently chiding nations that have not by urging in a tweet for concrete commitments and clear goals.
We have a responsibility to set clear goals and make concrete commitments to meet the challenges of our time. This G7 must be one of action. I am glad to see you again, dear partners and friends. Let’s get to work, together. pic.twitter.com/1uZ1MWCre0
— Emmanuel Macron (@EmmanuelMacron) June 11, 2021
G-7 set to Embrace a Global Minimum Tax of 15% Formally
The G-7 summit also set to officially embrace an international minimum tax of at least fifteen percent on multinational companies and corporations, following a pact reached seven days ago by their finance ministers. Furthermore, the minimum tax intends to stop corporations from using tax havens to avoid taxes and shift profits.
It represents a possible win for the Biden government, which projected a global minimum tax as a way to pay for countrywide infrastructure projects, and it unites with Biden’s hope to focus the summit on ways the countries can collaborate to develop a more fair and comprehensive global economy to help compete with U.S. rivals and rising autocracies such as China.
However, the major topic of the day was vaccines and the growing pressure to highlight vaccine-sharing plans globally, especially as inequities in supply worldwide become more distinct. In the United States, there is a significant stockpile of vaccines, and on the other side, the demand for vaccine shots fell quickly in the last some weeks.
The U.S. will Donate 500m Doses of Pfizer Vaccine
Biden announced to donate five hundred million Pfizer vaccine doses in 2021, two hundred million of them by the end of this year. That commitment from the U.S. was on top of eighty million vaccine doses the president already owed to donate by the June end. The officials didn’t release the price tag of the vaccine doses, but the United States set to become the largest donor nation to the international COVAX vaccine effort, in addition to its biggest funder.
Johnson said they would share the first five hundred million doses of the U.K. vaccine in the coming weeks, remaining in 2022. Likewise, Macron announced that France would share at least thirty million vaccine doses internationally by the 2021 end. Germany, on the other side, plans to donate the same number of doses. White House officials declared that the G-7 leaders pledged to one billion doses in all.
The COVAX vaccination campaign started at a slower pace as the richest democracies stockpiled billions of vaccine doses through agreements directly with drug companies. Besides, the alliance distributed just eighty-one million doses globally. Charity workers welcomed the recent wave of donations but said the world needs further and sooner vaccine doses.
Biden will end his 8-day trip by meeting with Vladimir Putin, the President of Russia, in Geneva. During an interview with NBC News, Putin said that their relations with the United States had worsened at the lowest point in recent years. A reporter asked him if he agreed with the assessment of Biden in March that he is a killer; the Russian president laughed and said the criticism was part of the macho attitude of the United States.