Yangshan Deepwater Container Port in Shanghai, China.
Qilai Shen | Corbis historical | Getty Images
SINGAPORE – Asia’s economic recovery may slow Other countries are suspending use of the Covid-19 vaccine developed by AstraZeneca and the University of Oxford warned Asia Pacific chief economists about Moody’s Analytics.
“It adds a modest risk to Asia’s role in global economic turnaround,” Steve Cochrane told CNBC “Squawk Box Asia” on Tuesday.
Reports of blood clots For some people who received the AstraZeneca-Oxford shot, several countries – many of them in Europe – led them to temporarily stop using the vaccine. The World Health Organization said There is no association between the shot and an increased risk of developing blood clots and is being investigated.
Cochrane said issues related to the AstraZeneca-Oxford vaccine could affect world trade – and that’s bad news for Asia, where many economies are dependent on trading activities.
The vaccine is of course a risk. One of the critical risks is that vaccines will have to be introduced later this year to get the world economy back on its feet.
Asia Pacific Chief Economist, Moody’s Analytics
“There is a possibility that world trade will be adversely affected if the introduction of vaccines in Europe is delayed. This would result in a more stalled economy in Europe. This could slow the pace of world trade.” ,” he explained.
Asian countries were relatively successful in containing the virusand that has helped their economies recover faster than those in Europe and the US
Fortunately, re-locks in some parts of Europe haven’t affected manufacturing, Cochrane said. He added that “almost all” of the effects of these lockdowns have affected the service sector.
“So right now it’s not that big of a problem, and world trade still seems very, very strong,” said the economist. “The vaccine is, of course, a risk. It is one of the critical risks. We have yet to see how vaccines are introduced later this year to get the world economy back on its feet.”
Thailand temporarily stopped using the AstraZeneca-Oxford vaccine on Friday, but authorities said Monday they would continue to administer the shots.
Thai Prime Minister Prayuth Chan-ocha became the first person in the country to get the AstraZeneca-Oxford shot on Tuesday, Reuters reported.
In other Asian countries, Indonesia announced on Monday that it was delaying the launch of the AstraZeneca-Oxford vaccine while awaiting review by the WHO. The news agency reported.
– CNBC’s Sam Meredith contributed to this report.