Global cooperation is more vital than ever. This is why
Coronavirus is showcasing a lack of global cooperation, and even opening a new frontline for competition.
The key lesson from the 2008 financial crisis was that coordination stemmed not from selflessness among parties, but precisely because it was in the interest of each party to work together.
At a time when global leaders are looking to maximize the benefit of stimulus responses to their own citizens and businesses, they would do well to cooperate with one another.
The great global misalignment is that at the very moment cooperation is more vital than ever to address urgent challenges, it is in decline.
In late June, referencing the fractured response to the COVID-19 crisis, UN Secretary-General Antonio Guterres warned “there is total lack of coordination among countries.” Some have gone further, drawing on examples from history and comparing the global quest for a COVID-19 vaccine to the space race between the United States and the Soviet Union, where each side was looking to “win” at the expense of the other.
Though lamentable, it should not come as a surprise that the coronavirus is showcasing a lack of global cooperation, and even opening a new frontline for competition.
Read full article: World Economic Forum