05.12.2022 | Forbes

By Steve Brozak

Today, using a virtual structure, the World’s leadership including President Biden, will launch the Second Covid-19 Summit to “redouble the efforts” to control the pandemic. On “virtual” paper, this conference will be attended by the most important leaders engaged in the pandemic fight. Yet, the likelihood of anything meaningful coming out of this conference is so remote that at best it will be anti-climactic.

And why with the luster and panoply of these participants should expectations be so lukewarm? Because we are witnessing an assembly that is sorely lacking in monetary pledges. Instead, of discussing global planning options, the main questions and focus will be in asking for donations. What the summit organizers have failed to recognize is, it’s always about the money. If you are a serious player, you don’t walk into a casino with empty pockets; you bring the money.

A coherent domestic and international financial Covid-19 strategy has been lacking since the virus first appeared. Government leaders across the globe have ignored the reality that Covid-19 and the health of our economies are inexorably intertwined, and the capital markets are now telling us that the world is not equipped for this long-term conflict.

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