Bill Gates is wrong about coronavirus having the same economic impact as one of the world wars

 

Bill Gates can see light at the end of the tunnel. In an interview this weekend in Wired, he reckons that thanks to the wave of innovation in treating Covid-19, and the resources going into developing a vaccine, “for the rich world, we should largely be able to end this thing by the end of 2021, and for the world at large by the end of 2022”.

However, even if that is right, he thinks that the blow to the global economy is such that it will take several years to get back to the position at the beginning of this year. In particular he is worried about progress in combating other diseases such as malaria and polio, and he is worried about global indebtedness: “It’s not World War I or World War II, but it is in that order of magnitude as a negative shock to the system.”

But at least he is confident about a vaccine working: “It’s because of innovation that you don’t have to contemplate an even sadder statement, which is this thing will be raging for five years until natural immunity is our only hope.”

more:

1 reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: