FT News Briefing US to support temporary suspension of Covid-19 vaccine patents, India’s coronavirus crisis is affecting global shipping
May 6, 2021
The US backtracks on vaccine patents to boost global supply amid the pandemic, sparking debate over pharmaceutical rights. India's COVID-19 crisis severely disrupts international shipping, exposing challenges for seafarers. Meanwhile, Europe's tourism industry eyes a revival, shifting focus to attract higher-spending visitors while minimizing over-tourism. The podcast also touches on financial turmoil from the Archegos fiasco, which has upended major banks.
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US Supports Vaccine Patent Suspension
- The US supports temporarily suspending intellectual property rights for Covid-19 vaccines.
- This aims to increase vaccine access for countries in need, despite pharmaceutical lobbying.
India's Crisis Impacts Shipping
- India's Covid-19 crisis impacts global shipping as ports block ships from India.
- Crew changes are also blocked, causing supply chain disruptions.
European Tourism Shift
- European tourism aims to attract fewer, higher-spending tourists post-pandemic.
- This shift targets a more sustainable and profitable tourism model.