Developing countries may face a long wait if they want a vaccine made
in the West, but there's always the option of turning to China, an
economist from the Development Bank of Singapore said. "Considering the billions of doses needed, and the risk [of] falling
at the back of a very long line for Western vaccines, the appeal of the
Chinese vaccines is apparent," Taimur Baig, chief economist and managing
director at DBS Group Research, said in a note to US business news
channel CNBC. China has five homegrown vaccine candidates in phase three trials,
according to the Ministry of Foreign Affairs. That's usually the last
step before government regulators vet the vaccine for approval. Sinopharm, or China National Pharmaceutical Group, submitted an
application to Chinese authorities last week seeking approval. The firm
has two vaccine candidates. Sinovac Biotech, another vaccine developer, said the company's
partners in Brazil, Indonesia and Turkey have established monitoring
systems for adverse reactions in accordance with internationally
accepted standards. So far, no severe adverse reactions related to
COVID-19 vaccines have been reported. Beijing has already promised its vaccine will be supplied to
developing countries in priority as a public good after research and
development is complete and the vaccine is available. Beijing also joined Covax, a vaccine alliance backed by the World
Health Organization, which seeks to grant equal access to all
participating countries when a vaccine is developed. The goal is to
provide a lifeline to lower-income countries that would not have been
able to afford these vaccines otherwise.
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