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Two types of cicadas that resurface every 13 and 17 years, respectively, are making their rare appearance this spring.
HARD NUMBERS: Cicadas plan historic reunion, China uncorks stimulus binge, Collusion claim rocks shale, Argentina gets more IMF money, Melinda Gates walks out the door
221: Can you hear it? If you’re in the US Midwest you sure can. After 221 years, two local broods of cicadas – red-eyed, beetle-like insects that grow underground for years before emerging for a single summer of cacophonous buzzing and mating – will emerge at the same time. Brood XIII, based in Illinois, comes up every 17 years, while Brood XIX does so every 13 years. For context, the last time they were out at the same time, Illinois wasn’t even a state yet.
140 billion: As its GDP growth picks up again, the Chinese government is looking for some further stimulus, and what better way to invigorate the economic senses than $140 billion in long-dated sovereign bonds? Beijing will start selling the paper this week, putting the funds towards “modernization.” China is looking to wean itself off of an economic model that relies heavily on property investment.
10: At least 10 new class action lawsuits allege that US shale oil producers colluded to keep crude prices up, driving up gasoline prices too. The shale oil industry, which uses advanced technologies to pull petroleum hard-to-develop shale rock formations, has boomed in the past decade, catapulting the US into the global top spot in oil production.
800 million: The IMF is set to disburse another $800 million in support for Argentina after determining that new President Javier Milei’s radical austerity reforms have helped to stabilize the economy. The eccentric Milei, a self-described “anarcho-capitalist,” has slashed spending since he was elected on promises to fix a moribund economy mired in triple-digit inflation. For a deeper look at how and why Milei is succeeding, see this Quick Take by Ian Bremmer.
12.5 billion: Philanthropist Melinda Gates, formerly married to Microsoft founder Bill, is stepping down from the Bill and Melinda Gates Foundation, one of the largest donor organizations in the world. As part of her agreement, she will keep $12.5 billion to direct towards her own work supporting women, minority groups, and families. To date, the foundation has given out more than $75 billion in grants to development and healthcare projects. Melinda and Bill divorced in 2021.
Global food crisis: when food isn't merely expensive
Shortages as a result of Russia's war in Ukraine have aggravated a pre-existing global food crisis that could push a billion people — most of them in the poorest parts of the world — into starvation. It's not just one thing: droughts, COVID-induced supply chain snarls, and high energy prices have all gotten us to this point. And it’ll get worse later on if we don’t find ways to future-proof global food systems.
So, what are we gonna do about it? Several experts weighed in during the livestream discussion "Hunger Pains: The growing global food crisis," hosted by GZERO Media in partnership with the Bill & Melinda Gates Foundation.
Indeed, we are moving toward a long-term scenario in which countries will simply be unable to produce and export as food as they are now, said Mark Suzman, CEO of the Bill & Melinda Gates Foundation. And that's going to have political consequences.
If more people around the world can't get enough to eat, Eurasia Group and GZERO President Ian Bremmer warned that'll erode the very fabric of globalization — the global middle class. What's more, he added, when people get hungrier, they'll get angrier, and less interested in global solutions to their problems, which will, in turn, be reflected in their choice of government.
The magnitude of the challenge is daunting, said Suzman. Just think of the millions of children who'll become stunted from malnutrition, which means their brains will never become fully developed. He thinks the scale and size of the response so far fall far short of what's needed.
Ertharin Cousin, former head of the UN's World Food Programme, noted how the pandemic laid bare the failure of regional food systems to feed everyone, and now of course the war in Ukraine has made everything worse, for instance by slashing the WFP's capacity to supply food to the needy without Ukrainian grains. If we don't completely rethink the ways we produce and distribute food, she said we may soon transition from an affordability crisis to an availability crisis.
For her part, Kathryn Hollifield, from the World Bank's Global Agriculture and Food Security Program, unpacked the systemic challenges that are hurting the odds of meeting the UN's Sustainable Development Goals by the 2030 deadline.
Thomas Njeru, who knows a thing or two about smallholder farming because he grew up on a small farm in his native Kenya before co-founding a micro-insurance firm for smallholders, called for big agribiz to do more to increase the productivity of smallholders so we don't end up with situations like tomatoes costing four times more in Nairobi than in Chicago.
Finally, David Laborde, a research fellow at the International Food Policy Research Institute, predicted that we have already reached peak global food inflation, although prices might rise further at the local level in some countries. He has a very clear message for governments thinking of export bans to address shortages: don't do it, because in the long run it'll hurt your farmers too.
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Can the world learn lessons from vaccine inequity?
GZERO Media and the Bill & Melinda Gates Foundation convened leading experts in public health, research, development, and philanthropy on Thursday to discuss the uneven state of global recovery from health and economic perspectives. Participants included moderator Natasha Kimani of Africa No Filter; Eurasia Group President Ian Bremmer; José Manuel Barroso, chair of Gavi, The Vaccine Alliance; Dr. John Nkengasong, director of the Africa Centers for Disease Control; Melanie Saville, director of vaccine research and development for CEPI; and Mark Suzman, CEO of The Bill & Melinda Gates Foundation. They discussed vaccine equity and how we can end the COVID pandemic in a way that better equips the world for similar challenges in the future.
On many streets in the UK and US, it’s almost possible to forget that there’s an ongoing COVID-19 pandemic. With so many westerners double vaccinated and boosted, the threat of the omicron variant has eased. In fact, the CDC just lifted mask recommendations for much of the US. But that doesn’t mean the pandemic is over. For many countries, that’s far from the case.
Moderator Natasha Kimani, the research and media programs lead at Africa No Filter, kicked off the discussion by asking where things stand today as the world marks the second anniversary of the pandemic.
“It depends on where you sit,” says Dr. John N. Nkengasong, a virologist and director of Africa’s CDC. “If you’re sitting in Africa, the glass is half empty. If you’re sitting in the global north, the glass may be half full.”
There’s a reason for optimism in parts of the world that have managed to vaccinate a majority of their populations. But in Africa, says Nkengasong, there’s deep concern because the virus, and its effects remain “very unpredictable and very unsettled.” Optimism elsewhere, he warns, should be approached with caution and humility because more surprises may await us. “There’s still a lot we need to learn about the virus,” he says.
Nkengasong is optimistic the world will overcome the pandemic but is concerned by how long it will take. “We are dealing with a very determined enemy — let there not be doubt in anyone’s mind.”
Sadly, many low-income countries are still struggling to get vaccines and distribute them properly. With only 11 percent of the African continent vaccinated, according to the UN, much more needs to be done.
So, why have some countries fared so well while others have languished?
“The world has not provided equitable distribution,” says Mark Suzman, CEO of The Bill & Melinda Gates Foundation, which came at the cost of “lives lost that could’ve been saved.” Before a vaccine was available, countries agreed in principle to distribute a future jab to the most vulnerable. But once a vaccine was developed, Suzman explains, domestic political pressures in western countries led to a free-for-all instead.
Politics aside, the production of such a quick and effective vaccine is remarkable, and the technological innovation is worth heralding. “I think we've put 10 years of development into less than a year,” says Melanie Saville, director of vaccine research and development for CEPI.
But as for the lessons to be learned from their unequal distribution? Suzman points to two areas. First, we must finish addressing the current crisis and ensure effective delivery of vaccines to the unvaccinated. But, second, we must get ahead of future health threats by ensuring there’s enough volume of treatments available in both low- and higher-income countries. To be ready for the next pandemic, he says, we need to have all the tools and structures in place, including good surveillance, research and development, and manufacturing capabilities to respond to health threats within a couple of hundred days.
You would think that a global pandemic threatening millions of lives would pull the world together in search of a solution. Instead, we’ve witnessed political fragmentation in the US and vaccine inequity worldwide.
Russia’s invasion of Ukraine, meanwhile, has managed to take the pandemic off everyone’s radar. What’s a deadly virus compared to the threat of nuclear weapons? “Maybe we should give President Putin a Nobel prize of medicine because, apparently, he made COVID disappear,” quips Manuel Barroso, chair of Gavi, The Vaccine Alliance. Putin, of course, did nothing of the sort, and low oxygen supplies in Ukraine have spotlighted how COVID, as well as many other medical issues, are amplified during times of war.
But the Russian assault on Ukraine has managed to breathe new life into transatlantic cooperation. Could this newfound energy for a bolstered alliance help move the needle on other issues, such as health?
“I think the answer’s yes,” says Eurasia Group President Ian Bremmer. The pandemic wasn’t enough to shake up the dysfunctions in geopolitics, he explains, pointing to the politicization of health care at home and vaccine distribution inequity worldwide.
But the idea of a western collision with a nuclear-armed Russia?
That’s enough to shake up the allies and get them moving forward together, and Bremmer expects that cooperation to be long-lasting and to extend beyond the realms of defense and security (the wildcard being China and its future relationship with Russia), which will hopefully make it easier to help end the COVID pandemic and prepare for future health crises.
Looking back at the fight against COVID, Nkengasong likens the struggle in 2020 to one of fighting “a war with bare hands.” Last year, vaccines became the main tool for fighting back. This year, he says, we need to use every tool at our disposal — including self-testing, vaccines, boosting vaccine equity worldwide, ensuring access to new drugs — to prepare for the next variant, which “might cause severe disease.”
Only then, in late 2022, does he think there’s hope for “seeing the light at the end of the tunnel.”
"Women fell between the cracks" during COVID — former UN Women chief
During the pandemic, former UN Women chief Phumzile Mlambo-Ngcuka says many women were "caught up in the crossfire that is not of their own making," accounting for two-thirds of jobs lost due to COVID. What's more, she adds, women forced into the informal job market to make ends meet had a hard time returning to formal jobs once lockdowns ended. And since government incentives didn't target them enough, "women fell between the cracks."
She spoke during "Measuring what matters: How women are critical to pandemic recovery," a livestream conversation on October 28, 2021, hosted by GZERO Media in partnership with the Bill & Melinda Gates Foundation.
Silver lining from COVID? Women around the world got access to digital payments
There are few silver linings from the pandemic, but for Bill & Melinda Gates Foundation CEO Mark Suzman, one of them is "a massive expansion of social payments to women across the world." Women traditionally excluded from such systems in countries like Kenya or Pakistan, he says, finally got online — with immense potential to set up businesses for instance in agriculture. These are the "green shoots that we need to collectively build on" so after COVID we get a "faster, more effective, and more equitable recovery for the entire world."
He spoke during "Measuring what matters: How women are critical to pandemic recovery," a livestream conversation on October 28, 2021, hosted by GZERO Media in partnership with the Bill & Melinda Gates Foundation.