");vwo_$('head').append(_vwo_sel);return vwo_$('head')[0] && vwo_$('head')[0].lastChild;})("HEAD")}}, R_940895_48_1_2_2:{ fn:function(log,nonce=''){return (function(x) { if(!vwo_$.fn.vwoRevertHtml){ return; }; var el,ctx=vwo_$(x); /*vwo_debug log("Revert","content","[vwo-element-id='1742482566780']"); vwo_debug*/(el=vwo_$("[vwo-element-id='1742482566780']")).revertContentOp(),el=vwo_$("[vwo-element-id='1742482566780']");})("[vwo-element-id='1742482566780']")}}, C_940895_64_1_2_0:{ fn:function(log,nonce=''){return (function(x) {var el,ctx=vwo_$(x); /*vwo_debug log("content","#tfa_134-L > b:nth-of-type(1)"); vwo_debug*/el=vwo_$("#tfa_134-L > b:nth-of-type(1)"),vwo_$("#tfa_134-L > b:nth-of-type(1)").each((function(){this.__vwoControlOuterHTML=this.__vwoControlOuterHTML||this.outerHTML,vwo_$(this).vwoAttr("class",""),!vwo_$(this).find('[vwo-op-1742933835357-1=""]').length&&vwo_$(this).append('(Optional)'),vwo_$(this).nonEmptyContents().eq(0).replaceWith2(document.createTextNode("In your own words, why would an Marketplace listener choose to become an donor? "))})),el=vwo_$("#tfa_134-L > b:nth-of-type(1)");})("#tfa_134-L > b:nth-of-type(1)")}}, R_940895_64_1_2_0:{ fn:function(log,nonce=''){return (function(x) { if(!vwo_$.fn.vwoRevertHtml){ return; }; var el,ctx=vwo_$(x); /*vwo_debug log("Revert","content","#tfa_134-L > b:nth-of-type(1)"); vwo_debug*/(el=vwo_$("#tfa_134-L > b:nth-of-type(1)")).revertContentOp(),el=vwo_$("#tfa_134-L > b:nth-of-type(1)");})("#tfa_134-L > b:nth-of-type(1)")}}, C_940895_48_1_2_2:{ fn:function(log,nonce=''){return (function(x) {var el,ctx=vwo_$(x); /*vwo_debug log("content","[vwo-element-id='1742482566780']"); vwo_debug*/(el=vwo_$("[vwo-element-id='1742482566780']")).replaceWith2("You'll gain real-world insights into how economics impacts your daily life with this easy-to-follow online course. This crash course is based on the acclaimed textbook Economy, Society, and Public Policy by CORE Econ, tailored to help you grasp key concepts without feeling overwhelmed.

Whether you're new to economics or just want to deepen your understanding, this course covers the basics and connects them to today’s pressing issues—from inequality to public policy decisions.

Each week, you'll receive a reading guide that distills core principles, offers actionable takeaways, and explains how they affect the current world. While the full ebook enriches the experience, the guides alone provide a comprehensive understanding of fundamental economic ideas.

You’ll find this course especially useful and unique because…
"),el=vwo_$("[vwo-element-id='1742482566780']");})("[vwo-element-id='1742482566780']")}}, R_940895_48_1_2_0:{ fn:function(log,nonce=''){return (function(x) { if(!vwo_$.fn.vwoRevertHtml){ return; }; var ctx=vwo_$(x),el; /*vwo_debug log("Revert","content",""); vwo_debug*/; el=vwo_$('[vwo-element-id="1742919897117"]'); el.revertContentOp().remove();})("HEAD")}}, C_940895_48_1_2_1:{ fn:function(log,nonce=''){return (function(x) {var el,ctx=vwo_$(x); /*vwo_debug log("editElement",".stylingblock-content-margin-cell > table:nth-of-type(1) > tbody:nth-of-type(1) > tr:nth-of-type(1) > td:nth-of-type(1) > div:nth-of-type(1) > div:nth-of-type(1) > h2:nth-of-type(1) > span:nth-of-type(1)"); vwo_debug*/(el=vwo_$(".stylingblock-content-margin-cell > table:nth-of-type(1) > tbody:nth-of-type(1) > tr:nth-of-type(1) > td:nth-of-type(1) > div:nth-of-type(1) > div:nth-of-type(1) > h2:nth-of-type(1) > span:nth-of-type(1)")).html("Hello! David Brancaccio here. Do you want instant access to the free online course - “Economics 101” - to understand basic economic concepts?");})(".stylingblock-content-margin-cell > table:nth-of-type(1) > tbody:nth-of-type(1) > tr:nth-of-type(1) > td:nth-of-type(1) > div:nth-of-type(1) > div:nth-of-type(1) > h2:nth-of-type(1) > span:nth-of-type(1)")}}, R_940895_48_1_2_1:{ fn:function(log,nonce=''){return (function(x) { if(!vwo_$.fn.vwoRevertHtml){ return; }; var el,ctx=vwo_$(x); /*vwo_debug log("Revert","editElement",".stylingblock-content-margin-cell > table:nth-of-type(1) > tbody:nth-of-type(1) > tr:nth-of-type(1) > td:nth-of-type(1) > div:nth-of-type(1) > div:nth-of-type(1) > h2:nth-of-type(1) > span:nth-of-type(1)"); vwo_debug*/(el=vwo_$(".stylingblock-content-margin-cell > table:nth-of-type(1) > tbody:nth-of-type(1) > tr:nth-of-type(1) > td:nth-of-type(1) > div:nth-of-type(1) > div:nth-of-type(1) > h2:nth-of-type(1) > span:nth-of-type(1)")).vwoRevertHtml();})(".stylingblock-content-margin-cell > table:nth-of-type(1) > tbody:nth-of-type(1) > tr:nth-of-type(1) > td:nth-of-type(1) > div:nth-of-type(1) > div:nth-of-type(1) > h2:nth-of-type(1) > span:nth-of-type(1)")}}, C_940895_69_1_2_0:{ fn:function(log,nonce=''){return (function(x) {var el,ctx=vwo_$(x); /*vwo_debug log("editElement","LABEL:tm('Monthly Donation')"); vwo_debug*/(el=vwo_$(".vwo_tm_1744832362631 LABEL:tm('Monthly Donation')")).html("Monthly Donation (best way to give!)"),el.addClass("vwo_tm_1744832362631");})(".vwo_tm_1744832362631 LABEL:tm('Monthly Donation')")}}, R_940895_69_1_2_0:{ fn:function(log,nonce=''){return (function(x) { if(!vwo_$.fn.vwoRevertHtml){ return; }; var el,ctx=vwo_$(x); /*vwo_debug log("Revert","editElement","LABEL:tm('Monthly Donation')"); vwo_debug*/(el=vwo_$(".vwo_tm_1744832362631 LABEL:tm('Monthly Donation')")).vwoRevertHtml();})(".vwo_tm_1744832362631 LABEL:tm('Monthly Donation')")}}},rules:[{"tags":[{"data":{"type":"m","campaigns":[{"c":64,"g":5}]},"metricId":951905,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":69,"g":1}]},"metricId":951905,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":48,"g":2}]},"metricId":951905,"id":"metric"}],"triggers":["8459768"]},{"tags":[{"data":{"type":"m","campaigns":[{"c":64,"g":3}]},"metricId":959030,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":69,"g":3}]},"metricId":959030,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":48,"g":4}]},"metricId":959030,"id":"metric"}],"triggers":["8536412"]},{"tags":[{"data":{"type":"m","campaigns":[{"c":64,"g":4}]},"metricId":959027,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":69,"g":2}]},"metricId":959027,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":48,"g":5}]},"metricId":959027,"id":"metric"}],"triggers":["8536409"]},{"tags":[{"data":{"type":"m","campaigns":[{"c":64,"g":1}]},"metricId":951908,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":48,"g":1}]},"metricId":951908,"id":"metric"}],"triggers":["8639604"]},{"tags":[{"priority":4,"id":"runCampaign","data":"campaigns.64"},{"priority":4,"id":"runCampaign","data":"campaigns.69"},{"priority":4,"id":"runCampaign","data":"campaigns.48"}],"triggers":["10589191"]},{"tags":[{"data":{"type":"m","campaigns":[{"c":64,"g":2}]},"metricId":959033,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":69,"g":4}]},"metricId":959033,"id":"metric"},{"data":{"type":"m","campaigns":[{"c":48,"g":3}]},"metricId":959033,"id":"metric"}],"triggers":["8536415"]},{"tags":[{"id":"checkEnvironment"}],"triggers":["5"]},{"tags":[{"priority":3,"id":"prePostMutation"},{"priority":2,"id":"groupCampaigns"}],"triggers":["8"]},{"tags":[{"id":"urlChange"}],"triggers":["75"]},{"tags":[{"id":"runTestCampaign"}],"triggers":["2"]},{"tags":[{"priority":2,"id":"visibilityService"}],"triggers":["9"]}],pages:{"ec":[{"1625289":{"inc":["o",["url","urlReg","(?i).*"]]}}]},pagesEval:{"ec":[1625289]},stags:{}}})(); ;;var commonWrapper=function(argument){if(!argument){argument={valuesGetter:function(){return{}},valuesSetter:function(){},verifyData:function(){return{}}}}const getVisitorUuid=function(){if(window._vwo_acc_id>=1037725){return window.VWO&&window.VWO.get("visitor.id")}else{return window.VWO._&&window.VWO._.cookies&&window.VWO._.cookies.get("_vwo_uuid")}};var pollInterval=100;var timeout=6e4;return function(){var accountIntegrationSettings={};var _interval=null;function waitForAnalyticsVariables(){try{accountIntegrationSettings=argument.valuesGetter();accountIntegrationSettings.visitorUuid=getVisitorUuid()}catch(error){accountIntegrationSettings=undefined}if(accountIntegrationSettings&&argument.verifyData(accountIntegrationSettings)){argument.valuesSetter(accountIntegrationSettings);return 1}return 0}var currentTime=0;_interval=setInterval((function(){currentTime=currentTime||performance.now();var result=waitForAnalyticsVariables();if(result||performance.now()-currentTime>=timeout){clearInterval(_interval)}}),pollInterval)}}; var pushBasedCommonWrapper=function(argument){var firedCamp={};if(!argument){argument={integrationName:"",getExperimentList:function(){},accountSettings:function(){},pushData:function(){}}}return function(){window.VWO=window.VWO||[];const getVisitorUuid=function(){if(window._vwo_acc_id>=1037725){return window.VWO&&window.VWO.get("visitor.id")}else{return window.VWO._&&window.VWO._.cookies&&window.VWO._.cookies.get("_vwo_uuid")}};var sendDebugLogsOld=function(expId,variationId,errorType,user_type,data){try{var errorPayload={f:argument["integrationName"]||"",a:window._vwo_acc_id,url:window.location.href,exp:expId,v:variationId,vwo_uuid:getVisitorUuid(),user_type:user_type};if(errorType=="initIntegrationCallback"){errorPayload["log_type"]="initIntegrationCallback";errorPayload["data"]=JSON.stringify(data||"")}else if(errorType=="timeout"){errorPayload["timeout"]=true}if(window.VWO._.customError){window.VWO._.customError({msg:"integration debug",url:window.location.href,lineno:"",colno:"",source:JSON.stringify(errorPayload)})}}catch(e){window.VWO._.customError&&window.VWO._.customError({msg:"integration debug failed",url:"",lineno:"",colno:"",source:""})}};var sendDebugLogs=function(expId,variationId,errorType,user_type){var eventName="vwo_debugLogs";var eventPayload={};try{eventPayload={intName:argument["integrationName"]||"",varId:variationId,expId:expId,type:errorType,vwo_uuid:getVisitorUuid(),user_type:user_type};if(window.VWO._.event){window.VWO._.event(eventName,eventPayload,{enableLogs:1})}}catch(e){eventPayload={msg:"integration event log failed",url:window.location.href};window.VWO._.event&&window.VWO._.event(eventName,eventPayload)}};const callbackFn=function(data){if(!data)return;var expId=data[1],variationId=data[2],repeated=data[0],singleCall=0,debug=0;var experimentList=argument.getExperimentList();var integrationName=argument["integrationName"]||"vwo";if(typeof argument.accountSettings==="function"){var accountSettings=argument.accountSettings();if(accountSettings){singleCall=accountSettings["singleCall"];debug=accountSettings["debug"]}}if(debug){sendDebugLogs(expId,variationId,"intCallTriggered",repeated)}if(singleCall&&(repeated==="vS"||repeated==="vSS")||firedCamp[expId]){return}window.expList=window.expList||{};var expList=window.expList[integrationName]=window.expList[integrationName]||[];if(expId&&variationId&&["VISUAL_AB","VISUAL","SPLIT_URL"].indexOf(_vwo_exp[expId].type)>-1){if(experimentList.indexOf(+expId)!==-1){firedCamp[expId]=variationId;var visitorUuid=getVisitorUuid();var pollInterval=100;var currentTime=0;var timeout=6e4;var user_type=_vwo_exp[expId].exec?"vwo-retry":"vwo-new";var interval=setInterval((function(){if(expList.indexOf(expId)!==-1){clearInterval(interval);return}currentTime=currentTime||performance.now();var toClearInterval=argument.pushData(expId,variationId,visitorUuid);if(debug&&toClearInterval){sendDebugLogsOld(expId,variationId,"",user_type);sendDebugLogs(expId,variationId,"intDataPushed",user_type)}var isTimeout=performance.now()-currentTime>=timeout;if(isTimeout&&debug){sendDebugLogsOld(expId,variationId,"timeout",user_type);sendDebugLogs(expId,variationId,"intTimeout",user_type)}if(toClearInterval||isTimeout){clearInterval(interval)}if(toClearInterval){window.expList[integrationName].push(expId)}}),pollInterval||100)}}};window.VWO.push(["onVariationApplied",callbackFn]);window.VWO.push(["onVariationShownSent",callbackFn])}}; var surveyDataCommonWrapper=function(argument){if(!argument){argument={getCampaignList:function(){return[]},surveyStatusChange:function(){},answerSubmitted:function(){}}}return function(){window.VWO=window.VWO||[];function getValuesFromAnswers(answers){var values=[];for(var i=0;i=timeout;if(toClearInterval||isTimeout){clearInterval(interval)}}),pollInterval)}}window.VWO.push(["onSurveyShown",function(data){commonSurveyCallback(data,argument.surveyStatusChange,"surveyShown")}]);window.VWO.push(["onSurveyCompleted",function(data){commonSurveyCallback(data,argument.surveyStatusChange,"surveyCompleted")}]);window.VWO.push(["onSurveyAnswerSubmitted",function(data){commonSurveyCallback(data,argument.answerSubmitted,"surveySubmitted")}])}}; (function(){var VWOOmniTemp={};window.VWOOmni=window.VWOOmni||{};for(var key in VWOOmniTemp)Object.prototype.hasOwnProperty.call(VWOOmniTemp,key)&&(window.VWOOmni[key]=VWOOmniTemp[key]);;})();(function(){window.VWO=window.VWO||[];var pollInterval=100;var _vis_data={};var intervalObj={};var analyticsTimerObj={};var experimentListObj={};window.VWO.push(["onVariationApplied",function(data){if(!data){return}var expId=data[1],variationId=data[2];if(expId&&variationId&&["VISUAL_AB","VISUAL","SPLIT_URL"].indexOf(window._vwo_exp[expId].type)>-1){}}])})();; ;var vD=VWO.data||{};VWO.data={content:{"fns":{"list":{"args":{"1":{}},"vn":1}}},as:"r6.visualwebsiteoptimizer.com",dacdnUrl:"https://dev.visualwebsiteoptimizer.com",accountJSInfo:{"rp":30,"ts":1745302433,"pc":{"a":0,"t":0},"noSS":false}};for(var k in vD){VWO.data[k]=vD[k]};;var gcpfb=function(a,loadFunc,status,err,success){function vwoErr() {_vwo_err({message:"Google_Cdn failing for " + a + ". Trying Fallback..",code:"cloudcdnerr",status:status});} if(a.indexOf("/cdn/")!==-1){loadFunc(a.replace("cdn/",""),err,success); vwoErr(); return true;} else if(a.indexOf("/dcdn/")!==-1&&a.indexOf("evad.js") !== -1){loadFunc(a.replace("dcdn/",""),err,success); vwoErr(); return true;}};window.VWO=window.VWO || [];window.VWO._= window.VWO._ || {};window.VWO._.gcpfb=gcpfb;;var d={cookie:document.cookie,URL:document.URL,referrer:document.referrer};var w={VWO:{_:{}},location:{href:window.location.href,search:window.location.search},_vwoCc:window._vwoCc};;window._vwo_cdn="https://dev.visualwebsiteoptimizer.com/cdn/";window._vwo_apm_debug_cdn="https://dev.visualwebsiteoptimizer.com/cdn/";window.VWO._.useCdn=true;window.vwo_eT="br";window._VWO=window._VWO||{};window._VWO.fSeg={};window._VWO.dcdnUrl="/dcdn/settings.js";window.VWO.sTs=1745277263;window._VWO._vis_nc_lib=window._vwo_cdn+"edrv/nc-3f9594955e9158c3d78e98fc4a36811dbr.js";var loadWorker=function(url){_vwo_code.load(url, { dSC: true, onloadCb: function(xhr,a){window._vwo_wt_l=true;if(xhr.status===200 ||xhr.status===304){var code="var window="+JSON.stringify(w)+",document="+JSON.stringify(d)+";window.document=document;"+xhr.responseText;var blob=new Blob([code||"throw new Error('code not found!');"],{type:"application/javascript"}),url=URL.createObjectURL(blob);window.mainThread={webWorker:new Worker(url)};window.vwoChannelFW=new MessageChannel();window.vwoChannelToW=new MessageChannel();window.mainThread.webWorker.postMessage({vwoChannelToW:vwoChannelToW.port1,vwoChannelFW:vwoChannelFW.port2},[vwoChannelToW.port1, vwoChannelFW.port2]);if(!window._vwo_mt_f)return window._vwo_wt_f=true;_vwo_code.addScript({text:window._vwo_mt_f});delete window._vwo_mt_f}else{if(gcpfb(a,loadWorker,xhr.status)){return;}_vwo_code.finish("&e=loading_failure:"+a)}}, onerrorCb: function(a){if(gcpfb(a,loadWorker)){return;}window._vwo_wt_l=true;_vwo_code.finish("&e=loading_failure:"+a);}})};loadWorker("https://dev.visualwebsiteoptimizer.com/cdn/edrv/worker-413c17ee3e4a9a6250095279e25419c6br.js");;var _vis_opt_file;var _vis_opt_lib;if(window.VWO._.allSettings.dataStore.previewExtraSettings!=undefined&&window.VWO._.allSettings.dataStore.previewExtraSettings.isSurveyPreviewMode){var surveyHash=window.VWO._.allSettings.dataStore.plugins.LIBINFO.SURVEY_DEBUG_EVENTS.HASH;var param1="evad.js?va=";var param2="&d=debugger_new";var param3="&sp=1&a=940895&sh="+surveyHash;_vis_opt_file=vwoCode.use_existing_jquery&&typeof vwoCode.use_existing_jquery()!=="undefined"?vwoCode.use_existing_jquery()?param1+"vanj"+param2:param1+"va_gq"+param2:param1+"edrv/va_gq-7c7c840681fb5b7ddc0fce3da241cf55br.js"+param2;_vis_opt_file=_vis_opt_file+param3;_vis_opt_lib="https://dev.visualwebsiteoptimizer.com/dcdn/"+_vis_opt_file}else if(window.VWO._.allSettings.dataStore.mode!=undefined&&window.VWO._.allSettings.dataStore.mode=="PREVIEW"){ var path1 = 'edrv/pd_'; var path2 = window.VWO._.allSettings.dataStore.plugins.LIBINFO.EVAD.HASH + ".js"; ;_vis_opt_file=vwoCode.use_existing_jquery&&typeof vwoCode.use_existing_jquery()!=="undefined"?vwoCode.use_existing_jquery()?path1+"vanj"+path2:path1+"va_gq"+path2:path1+"edrv/va_gq-7c7c840681fb5b7ddc0fce3da241cf55br.js"+path2;_vis_opt_lib="https://dev.visualwebsiteoptimizer.com/cdn/"+_vis_opt_file}else{_vis_opt_file=vwoCode.use_existing_jquery&&typeof vwoCode.use_existing_jquery()!=="undefined"?vwoCode.use_existing_jquery()?"edrv/vanj-298dbd0998f2c686c389cd1da334dba4br.js":"edrv/va_gq-7c7c840681fb5b7ddc0fce3da241cf55br.js":"edrv/va_gq-7c7c840681fb5b7ddc0fce3da241cf55br.js"}window._vwo_library_timer=setTimeout((function(){vwoCode.removeLoaderAndOverlay&&vwoCode.removeLoaderAndOverlay();vwoCode.finish()}),vwoCode.library_tolerance&&typeof vwoCode.library_tolerance()!=="undefined"?vwoCode.library_tolerance():2500),_vis_opt_lib=typeof _vis_opt_lib=="undefined"?window._vwo_cdn+_vis_opt_file:_vis_opt_lib;var loadLib=function(url){_vwo_code.load(url, { dSC: true, onloadCb:function(xhr,a){window._vwo_mt_l=true;if(xhr.status===200 || xhr.status===304){if(!window._vwo_wt_f)return window._vwo_mt_f=xhr.responseText;_vwo_code.addScript({text:xhr.responseText});delete window._vwo_wt_f;}else{if(gcpfb(a,loadLib,xhr.status)){return;}_vwo_code.finish("&e=loading_failure:"+a);}}, onerrorCb: function(a){if(gcpfb(a,loadLib)){return;}window._vwo_mt_l=true;_vwo_code.finish("&e=loading_failure:"+a);}})};loadLib(_vis_opt_lib);VWO.load_co=function(u,opts){return window._vwo_code.load(u,opts);};;;}}catch(e){_vwo_code.finish();_vwo_code.removeLoaderAndOverlay&&_vwo_code.removeLoaderAndOverlay();_vwo_err(e);window.VWO.caE=1}})();

Marketplace®

Daily business news and economic stories

Countries race to limit, ban exports of masks, ventilators, other gear

Individual governments have defended decisions to keep medical equipment at home, arguing they must take care of their medical workers and patients first.

A program to monitor global protectionism found governments placed 46 different export controls on coronavirus-related safety supplies and machines this year. Above, masks are produced at factory in Germany on March 12.
A program to monitor global protectionism found governments placed 46 different export controls on coronavirus-related safety supplies and machines this year. Above, masks are produced at factory in Germany on March 12.
Thomas Kienzle/AFP via Getty Images

With critical ventilators and medical safety gear in short supply globally, countries that manufacture these goods are racing to keep them inside their borders. Nearly three dozen governments have banned or limited exports in March alone, a new study finds.

 
Reprinted with permission of Global Trade Alert
unknown

The export bans on critical medical supplies began in January in Asia, where of the global pandemic started. 

“Countries like Taiwan [were] very fast to ban the exportation of masks,” Simon Evenett, international trade professor at the University of St. Gallen in Switzerland, said. “And then countries like Korea, likewise.” Evenett is founder of Global Trade Alert, a program to monitor global protectionism, which tallied the accelerating trend of COVID-19 medical export restrictions.

Individual governments have defended decisions to keep medical equipment at home, arguing they must take care of their medical workers and patients first. However, the rules have canceled some deliveries to needy countries. At one point, a French producer of masks entered into an export contract with the British government.

The French company had to call the British health service and say “We can’t deliver these millions of masks.”

Simon Evenett, University of St. Gallen

“Then the French government put in place what’s called a requisition order,” Evenett said. “Anything produced in a French factory has to be sold to the French government. So the French company had to call the British health service and say ‘We can’t deliver these millions of masks any more.'”

The Czech Republic also banned exports of masks. According to Evenett, Germany even intercepted a shipment of Chinese-made masks bound for Switzerland.

“They were just trans-shipping through Germany, and they got caught up in this,” he said. “The Swiss went ballistic. And they called in the German ambassador and really gave him a telling off. The last I heard they were still in Germany.”

In all, Evenett found governments placed 46 different export controls on coronavirus-related safety supplies and machines this year. Thirty-three limits were approved in March alone.

Two weeks ago, the European Union agreed to a cease-fire — kind of. It allowed buying and selling of face shields, protective garments, masks and gloves inside the EU but not outside.

 
Reprinted with permission of Chad Bown and Peterson Institute for International Economics
unknown

“We need to keep in the EU the protective equipment we need,” Ursula von der Leyen, head of the European Commission, said in an online video message March 15. “Such medical goods can only be exported with the explicit authorization of the EU governments.”

The policy, while not an outright ban, in reality means “extra hurdles, extra steps,” Chad Bown, trade scholar and senior fellow at the Peterson Institute for International Economics, said.

Economic nationalism and hoarding aren’t new, Bown said. Many countries limited exports a decade ago when they faced critical grain shortages. To Bown, these decisions are understandable, yet could lead to unintended consequences.

“I think that’s a very natural first response,” Bown said. “The problem is, it only takes into consideration what I’m doing today. It doesn’t take into consideration the fact that everybody else could do the same back to me. In which case, we’re all ending up worse off.”

Romania stopped exporting ventilator hoses

Every country for itself doesn’t just cut off international shipments; it can gum up the global supply chain for, say, ventilators. At one point in the crisis, Romania stopped exporting hoses for ventilators until manufacturers cried foul. Bown worries that more of this could happen as trade walls go up and countries retaliate.

“The trade war experience of the last two years between the United States and China provide an important lesson for how quickly trade restrictions can escalate once they get started,” Bown said.

The biggest losers in a globalized world? The poorest countries that don’t make anything, Evenett said.

 
Reprinted with permission of Chad Bown, Peterson Institute for International Economics
unknown

“It’s quite possible these countries are never going to get their hands on high-end medical ventilators. So what we are doing? We are condemning lots of people to a painful and horrible death.”

Related Topics