COVID-19 Update: December 3, 2020

Global COVID-19 cases surpassed 62 million, and the worldwide death toll is over 1.45 million people. It took just 17 days to go from 50 million cases to 60 million, compared with the 21 days it took to go from 40 million to 50 million. Several countries are reporting a high rate of daily new cases. Countries such as Serbia, South Korea or Turkey have reported more than twice as many new cases compared to the previous 14 days, and Algeria, Brazil, Canada, Russia, and the US, among others, reported more cases, whereas countries such as Argentina, Austria, China, India, the Netherlands, Poland and Spain reported fewer new cases. The rising number of new infections has led countries around the world to impose new restrictions in recent weeks.

Given the unprecedented global mobilization of scientific know-how and pharmaceutical resources, it is expected that a new COVID-19 vaccine may be approved by the end of the year in the US and in the EU. As a consequence, the significant progress on vaccine development, together with other public health measures, raises hopes for ending the pandemic.
 
The International Air Transport Association is working on a Travel Pass, which will display test results together with proof of inoculation, as well as listing national entry rules, among other details.

The World Health Organization (WHO) Director General, Dr. Tedros Adhanom, in the G20 Leaders’ Summit highlighted that the COVID-19 pandemic has shaken the foundations of social, economic and political stability. Dr. Adhanom focused on three key areas in which the G20 has a vital role, both in ending the pandemic and building back better: 1) vaccines, as they are vital to end the pandemic and to boost global recovery, 2) preparedness to prevent future outbreaks and their impacts on lives, livelihoods and economies, and 3) leadership, because the G20 represents 2/3 of the global population and 80% of the global economy, and consequently has a unique role to play in fostering solidarity in order to end the pandemic.
 
Dr. Adhanom also remarked that there is a real hope that vaccines, together with other public health measures, will help to end the pandemic. In addition to this, the urgency with which the vaccines have been developed shall be matched by the same urgency to distribute them fairly. 

The International Monetary Fund (IMF) issued its Annual Report 2020, which stresses that the global economy is facing a deep recession with the ongoing impact of the pandemic. The report also states that uncertainty, in combination with long-term forces, influences the countries’ response to the COVID-19 and their recovery. Governments around the globe invested nearly $12 trillion in fiscal actions and about $7.5 trillion in monetary actions in order to save lives and help the global economy. However, ongoing global forces and the current crisis may offer opportunities to build a better future.
 
The EU announced a contribution of €183 million to the IMF Catastrophe Containment and Relief Trust (CCRT), which provides debt service relieve to countries hit by catastrophes including public health crises. The CCRT allows the IMF to support international debt relief efforts when poor and vulnerable countries are hit by natural disasters or public health crises, including the COVID-19 pandemic. The IMF has already disbursed about $500 million in immediate debt relief to all 29 CCRT-eligible members since the beginning of the pandemic. 

The World Trade Organization (WTO) issued the World Trade Report 2020 –an annual publication that aims to deepen understanding about trends in trade, trade policy issues and the multilateral trading system. The 2020 issue looks at the role of innovation and technology policies. The report highlights the fact that in the digital age, a growing number of governments have adopted policies aimed at boosting growth through innovation and technological upgrading. Furthermore, the crisis related to the COVID-19 pandemic is leading countries to strengthen these policies, and the outbreak has accelerated the uptake for e-commerce and digital innovation.

The Organization for Economic Co-operation and Development (OECD) issued the report “New Horizons: Structural policies for a strong recovery and a sustainable, inclusive and resilient future”. This report had been requested by the G20 to support its Action Plan in response to the crisis, and highlights that the pandemic has exposed weaknesses in the economy which can only be fixed through greater global cooperation and strong, targeted policy action. The OECD also recommends that governments need to plan for the recovery while continuing to live with the virus. Additionally, emergency economic measures need to be adopted, the support given to both people and businesses shall become more targeted, and new policies need to be adopted in order to make a stronger, sustainable and inclusive global economy.
 
The OECD identifies the need for stronger cooperation between governments in a number of fields: 1) health, from research to distributing COVID-19 vaccines, 2) trade, to ensure robust global production and supply chains, 3) the taxation of multinationals as the economy becomes increasingly digitalized, 4) environmental sustainability, and, 5) preventing sudden outflows of capital and sovereign debt crises in emerging markets and developing countries.
 
The report also states that exceptional fiscal spending and monetary support should be maintained as long as needed in order to mitigate the negative effects of the pandemic.

Furthermore, the crisis is accelerating changes to the economy, which are often disruptive. Governments will need to assist workers and businesses to transition from shrinking to expanding sectors: by removing barriers to mobility, increasing competition, and making it easier for firms to access finance and advanced technologies or to restructure.
 
The OECD issued another report, “Health at a Glance: Europe 2020”, which warns that Europe needs to prepare better for coming out of new strict containment measures, as the COVID-19 is spreading rapidly. The introduction of new mitigation measures is vital for policymakers to plan strategies to re-open their economies and to avoid stricter lockdown measures. More testing, tracing and isolation policies need to be implemented, as well as improved social distancing measures.
 
The report also provides comparative data on both the evolution of the pandemic in Europe as well as the policies aimed to mitigate its negative consequences. The report shows that some of the measures taken by European countries, such as banning large gatherings, enforcing the use of face masks and limiting capacity in indoor spaces, among others, had a positive outcome at slowing down the spread of the virus. 

The INC International Nut and Dried Fruit Council organized the First INC Online Conference on November 17-19. Among many interesting online sessions, such as the regional working groups, scientific and regulatory webinar, nutrition webinar, and industry marketing program update, three internationally renowned keynote speakers provided insights into the impact of COVID-19.
 
The first one, Mr. Javier Solana, former Secretary General of NATO (1995-1999) addressed “Geopolitics in the Post-COVID-19 World”. He looked into what the geopolitics of the US, China, and Europe might look like once the pandemic slows down and we return to a "new normal".  He outlined the role that the US has played in the international community and highlighted the drastic look that it will have towards the world under a projected Biden Administration. The overarching theme of his presentation was the importance of multilateral organizations and agreements to achieve great things.
 
The second keynote speech was titled “Goal Overview & Australia – Impact of COVID-19 in near and medium term” by Mr. Alan Oster, Group Chief Economist, National Australia Bank. Mr. Oster presented global GDP forecasts that showed a -3.9% drop in GDP for 2020. He put this into context reminding attendees that the worst outcome before had essentially been 0%. From his perspective, Europe and other regions could experience a “W” recession in which the economy experiences a first drop in output, following by a brief recovery, before once again falling. He stressed that the main factor in regards to the economy is how well countries manage the coronavirus outbreak.

And finally, keynote speaker Mr. Haim Israel, Global Strategist, Managing Director of Research at Bank of America, gave a speech titled "Transforming World! The World After COVID". Mr. Israel’s presentation stressed the idea that we are living in a revolutionary time period. He listed five megatrends that he believes will be important after COVID-19: Geopolitics, Tech Wars, Big Governments, Health, and the New Consumer. Israel’s experience in thematic investing provided a glimpse into the future and the challenges and opportunities that await us.

Watch the keynote presentations in the INC TV Channel of the Member's Area.

On November 10, a new electronic border pass system came into effect in order to enter Queensland from another state or territory, if passengers have not been in a COVID-19 hotspot area in the past 14 days. However, specialist or essential workers are able to enter Queensland following certain requirements.
 
Australia’s second most populous state, Victoria, recently lifted the 112-day lockdown, with almost 5 million residents in Melbourne confined at home. However, there was a cluster of infections in the north of Adelaide, after several months of no community transmission.

According to a recent USDA GAIN report, the Chinese retail food industry was especially impacted by the COVID-19 pandemic during the first half of 2020. During the lockdown e-commerce sales increased significantly, but supermarkets also experienced growth in sales.
 
The Hotel, Restaurant and Institutional (HRI) sectors suffered losses during the first quarter, but sales rebounded in the second quarter. In addition to this, COVID-19 testing caused longer port clearance time.
 
From November 22, Hong Kong and Singapore were expected to launch a travel bubble, which implied quarantine free flights between the two regions. However, the decision has been postponed until the first weeks of December, after a COVID-19 surge.

On November 18, the European Council and the Parliament reached a political agreement on REACT-EU –an emergency legislative initiative to release €47.5 billion through the structural funds to the hardest hit Member States and regions. This additional funding will come from the European Recovery Instrument. REACT-EU is expected to bolster health services, jobs, small and medium-sized enterprises while stimulating green and digital transformations. In 2021, the additional resources will be of €37.5 billion, and €10 billion in 2022.
 
In addition to this, the Council and the Parliament also reached a political agreement on the next multiannual financial framework, the EU’s long-term budget, which gives more flexibility to allow the EU to respond to unforeseen needs, and a targeted reinforcement of EU programs, including EU4Health program. The budget also establishes new revenue structures to repay €750 billion in debt the EU will take on to finance coronavirus assistance and recovery.
 
The European Commission approved a contract in order to secure 300 million doses of the new COVID-19 vaccine, which is expected to be available within the first three months of 2021.
 
On November 16, the EU Council adopted conclusions setting out how recovery from the COVID-19 crisis can be used as leverage for a more dynamic, resilient and competitive European industry. The conclusions reiterate the need for European solidarity, the green and digital transition, and achieving strategic autonomy while preserving an open economy.
 
On November 19, after the video conference of the EU Council members, the European Council president, Charles Michel, highlighted that the COVID-19 situation in Europe remains serious and concerning. The discussed topics were COVID-19 tests, vaccines and the lifting of restrictive measures. On testing, a common EU-approach for the use of rapid antigen tests was discussed. On vaccines, they agreed to speed up the preparations of national vaccination plans to ensure available and affordable vaccines to all EU citizens.
 
On November 21-22, at the G20 Summit, Michel said: "An international Treaty on Pandemics could help prevent future pandemics and help us respond more quickly and in a more coordinated manner. It should be negotiated with all nations, UN organizations and agencies, in particular the WHO. The WHO must remain the cornerstone of global coordination against health emergencies. A Treaty on Pandemics could complement its efforts."
 
On November 23, Michel held a phone call with the US president-elect Joe Biden. The EU leader emphasized that the EU is ready to tackle together with the US some of the main global challenges: The COVID-19 pandemic, economic recovery, climate change, security, and multilateralism. 

Belgium is one of the EU countries with the highest COVID-19 infection rates. Hospitals are almost running over capacity. New strict lockdown measures were announced, including a six-week closure of non-essential businesses and shops, and a November school break was extended by a week. A recent USDA GAIN report stresses the impact of the lockdown measures in the hospitality sector. 

Germany suffered an increase of new infections, after almost two weeks into partial lockdown measures, which have been extended until December 20. In order to contain the spread of the pandemic and avoid imposing stricter containment measures, the government urged the reduction in social contacts, abstaining from private parties until the holiday season, refraining from taking public transport, as well as staying home in case of symptoms. 

Greece has planned to ease COVID-19 lockdown restrictions and restart some economic activities by the beginning of December, only if the health situation remains stable.

Italy hit a new record of daily new COVID-19 infections and, as a consequence, added more regions to the so-called high-risk ‘red zones’. Regions are divided into three zones –red for the highest risk, then orange and yellow. In the red zone at the moment are Lombardy, Bolzano, Piedmont and Aosta Valley in the north, and Calabria in the south. Campania and Tuscany were the latest regions to enter into this classification. In these areas, people are only allowed to leave home for work, essential shopping or emergencies. All non-essential shops, including bars and restaurants, are closed.

From October 27, in order to contain the number of new COVID-19 infections, the government closed bars and restaurants at least until the beginning of December. However, restaurants are able to operate take-away and home delivery services. According to a recent USDA GAIN report, authorities granted an additional $47 million of financial support to the foodservice sector. 

According to a Health Ministry report of November 25, the incidence rate of COVID-19 has fallen in Spain, but at different speeds depending on the region, compared to the previous 14-day cumulative number of cases per 100,000 inhabitants. The biggest falls have been recorded by the regions with the highest infection rates, such as Castilla y Leon or the Basque Country. Other data points, such as COVID-19 patients in hospital beds, or the pressure on intensive care units, also indicate that the epidemiological situation is improving. 

The number of new COVID-19 cases is increasing in the UK. In September and October the number of hospitalized people neared the levels of the first wave of the pandemic. Stronger mitigation measures are in place until December 2, but subject to revisions if the situation does not improve. The government has introduced new restrictions: stay at home, except for the permitted activities, avoid meeting people from outside the household, and close certain businesses and venues. In addition to this, it is mandatory to wear face coverings indoors and on public transport.

On December 2, the UK became the first country to approve the Pfizer/BioNTech coronavirus vaccine. According to the Medicines and Healthcare products Regulatory Agency (MHRA), the vaccine offers up to 95% protection against COVID-19.
 
The decision by the UK regulatory authority was made with advice from the Commission on Human Medicines (CHM), the government’s independent expert scientific advisory body.
 
MHRA Chief Executive, Dr. June Raine said “We are globally recognised for requiring high standards of safety, quality and effectiveness for any vaccine. Our expert scientists and clinicians worked tirelessly, around the clock, carefully, scientifically, robustly and rigorously poring over hundreds of pages and tables of data, methodically reviewing the data.”

Millions of people in India have celebrated Diwali, the Hindu festival of light, amid social distancing measures. Despite new cases of COVID-19 declined during October, India is the second worst affected country, and experts feared that the festive gatherings and a drop in temperatures could prompt the spreading of the virus. The government is preparing for a third wave in Delhi, the most populated state, which had gradually lifted restrictions since May, but has seen cases rise in the last weeks.

Japan’s COVID-19 task force urges preventive measures in order to avoid a health crisis during winter, as cases soar in Tokyo and Hokkaido.
 
Tokyo Olympics are expected to take place in 2021. International Olympic Committee (IOC) President Thomas Bach is confident the event will be open to spectators.

The so-called common sense approach of South Korea made the country gain certain control over the outbreak. Despite the fact that during the first stages of the pandemic, the country was among the hardest hit nations, at this moment the outbreak is mainly under control. Citizens adopted quickly any medical or hygienic advice of both medical professionals or authorities, such as the recommendations to wear face masks or keeping physical distance. In addition to this, South Korea’s track and trace system has helped with limiting the spread of the pandemic. 

The US has become the first country to surpass 250,000 deaths in connection with COVID-19. Furthermore, it surpassed 12 million total infections, which implies that both the caseload and the number of deaths make the US the hardest-hit country. Earlier, US President-elect Joe Biden announced a COVID-19 task force of 13 experts in order to develop the incoming administration’s response to the pandemic. On November 14, as the country set a record of new COVID-19 cases, several States were reimposing restrictions. Texas became the first state with more than 1 million confirmed cases; California is approaching this same number, and New York has imposed stronger restrictions, such as restaurants closing at 10 pm.
 
As part of the Coronavirus Food Assistance Program, the USDA Farmers to Families Food Box Program reached 3.1 million boxes invoiced in round four, from November 1 to December 31.
 
 
The information above is a review of actions the INC has compiled from government sources, international organizations and press media. This news article is not intended to be exhaustive and it does not reflect the opinions of the INC. While the publishers believe that all information contained in this publication was correct at the time of publishing, they can accept no liability for any inaccuracies that may appear or loss suffered directly or indirectly by any reader as a result of any advertisement, editorial, photographs or other materials published in this news article.