Tackling COVID-19 Together
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The past fortnight has witnessed a sharp increase in zero-sum, unilateral trade policy acts as governments scramble for medical supplies and equipment. During a pandemic, such zero-sum behaviour risks inflicting an unconscionable human toll, as a case study on medical ventilators in this note makes clear. Rather than dwell exclusively on negative developments in this note, the case is also made for a bottom-up, cooperative trade policy initiative in which governments working together can exploit scale and ensure that trade policy does not diminish the payoff from public health interventions.
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