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Enduring colonialism has made it harder to end the COVID-19 pandemic

A major lesson from the COVID-19 pandemic is the need to decolonize transnational governance so that the world is better able to handle both future and…

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COVID-19 patients receive oxygen as they lie in their beds in the intensive care unit of a hospital in Machakos, Kenya, in August 2021. (AP Photo/Brian Inganga)

Rich countries are hoarding vaccine doses while poor countries become breeding grounds for new COVID-19 variants.

The World Health Organization’s COVAX — an abbreviation for COVID-19 Vaccines Global Access — warned that “no one is safe, until everyone is safe,” yet colonial attitudes are an obstacle to reining in the global pandemic.

COVID-19 has shown that global equity and inclusion are necessary to manage global crises. A major lesson from this pandemic is the need to decolonize transnational governance so that the world is better able to handle both future and current global crises and issues.

COVAX’s naïve failure

COVAX has failed.

It was supposed to provide vaccinations globally and equitably as well as serve as a mechanism through which both rich and poor countries would access vaccines. More than 80 per cent of the population in rich countries is fully vaccinated, compared to less than 10 per cent of the population in poor countries.

Credible reports say that poor countries have been affected the most by the global pandemic both in terms of how deadly it has been, as well as economically.

This summer, we’re seeing new pandemic waves in Europe and Asia driven by new SARS-CoV-2 variants first spotted in South Africa.

A health-care worker in blue protective garb listens to the breathing of a woman wearing a mask and a pink shirt.
A woman is screened for COVID-19 at a testing centre in Soweto, South Africa, in May 2022. (AP Photo/Denis Farrell)

COVAX is based on lofty ideals of equity and social justice. The initiative has been necessary to moderately balance the gap between rich and poor countries that would have fared worse had it not been launched.

But COVAX has been called naïve for relying upon the good will of rich countries for funding and on their willingness to wait patiently in line for their own populations’ doses.

COVAX’s good intentions have had to co-exist with “might is right” politics. Rich countries made their own deals and bought large amounts of vaccine supplies before they were even available.

Vaccine nationalism turned COVAX into a broker of charity. The colonial mentality believes it’s OK to cut deals with Big Pharma for vaccine doses ahead of populous poor countries, and to charitably donate to them their soon-to-expire leftovers.


Read more: COVID-19 vaccine inequity allowed Omicron to emerge


Colonial mentality

Global capitalism as we know it emerged from a colonial world order set up for exploitation of people and lands. European countries kidnapped people from Africa and enslaved them as they dispossessed Indigenous Peoples. This created the extractive economy of today.

Racial classifications and racism have remained an enduring aspect of the modern world. Colonialism produced the initial and current gap between the rich and the poor world, and racialized the latter. When the mercantilist order of the colonial day morphed into capitalism in the 1800s, the colonial mentality that simply assumes European superiority remained.

This has been the basis for the colonial upper hand of the West and the United States in the type of transnational governance that emerged after the Second World War (the United Nations and Bretton Woods organizations, including the World Trade Organization, the International Monetary Fund and the World Bank). This has also been the basis for the colonial mentality of today.

COVAX was conceived during the rich World Economic Forum in Davos in January 2020. As news of the virus emerged from China, two professional white men sipped whisky and envisioned COVAX in a Swiss ski resort bar.

A man with curly brown hair gestures as he speaks.
Seth Berkley, CEO of the vaccine alliance Gavi, gestures as he speaks during a media interview in Switzerland in December 2021. (Salvatore Di Nolfi, Keystone via AP)

Seth Berkley (CEO of the Global Alliance for Vaccines and Immunization, or Gavi) and Richard Hatchett (CEO of the Coalition for Epidemic Preparedness Innovations, or CEPI), heads of global vaccination networks, discussed pandemic scenarios. They knew the world would need a funding and distribution strategy for shots, so they started thinking about a global solution.

Hatchett wrote a white paper in March 2020 and those ideas were the basis for the creation of COVAX in April that year. All this sounds great, but colonial mentality ultimately prevented the success of their initiative. It stopped COVAX from emerging as the co-ordinator of sorely needed 21st-century solidarity.

Decolonizing crisis governance

People rarely hear the names of Berkley and Hatchett in the global public sphere. Berkley’s Gavi is a global vaccine alliance that brings together the public and private sectors. Hatchett’s CEPI describes itself as a “global partnership between public, private, philanthropic, and civil society organizations.”

Today, these two global organizations — supported by the World Health Organization — are dealing with the enduring pandemic. But their transparency and accountability have been questionable.

Gavi designed COVAX without oversight and “with a small group of like-minded advisors, primarily Global North philanthropists, academics, and consultants,” according to a Doctors Without Borders report. The perspectives of low- and middle-income countries, civil society organizations or regional disease control groups weren’t considered in a meaningful way.

At the same time, pharmaceutical industry representatives have had a seat at the table of major decision-making discussions, and this has helped maintain the status quo of their intellectual property rights.


Read more: Peru's COVID-19 vaccine scandal shows the shady deals made with pharma companies


The world needs to move beyond myopic national self-interest. It has become apparent that in order to control the COVID-19 pandemic, equity and inclusion are urgently required.

Scientists anticipate there will be new pandemics along with climate change crises. This will hardly be the last global public-health emergency.

Out of self-interest, transnational governance needs to embrace true solidarity. World leaders must use a decolonialized imagination to face these coming global challenges.

Monica Sanchez-Flores does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

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New findings on hair loss in men

A receding hairline, a total loss of hair from the crown, and ultimately, the classical horseshoe-shaped pattern of baldness: Previous research into male…

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A receding hairline, a total loss of hair from the crown, and ultimately, the classical horseshoe-shaped pattern of baldness: Previous research into male pattern hair loss, also termed androgenetic alopecia, has implicated multiple common genetic variants. Human geneticists from the University Hospital of Bonn (UKB) and by the Transdisciplinary Research Unit “Life & Health” of the University of Bonn have now performed a systematic investigation of the extent to which rare genetic variants may also contribute to this disorder. For this purpose, they analyzed the genetic sequences of 72,469 male participants from the UK Biobank project. The analyses identified five significantly associated genes, and further corroborated genes implicated in previous research. The results have now been published in the prestigious scientific journal Nature Communications.

Credit: University Hospital Bonn / Katharina Wislsperger

A receding hairline, a total loss of hair from the crown, and ultimately, the classical horseshoe-shaped pattern of baldness: Previous research into male pattern hair loss, also termed androgenetic alopecia, has implicated multiple common genetic variants. Human geneticists from the University Hospital of Bonn (UKB) and by the Transdisciplinary Research Unit “Life & Health” of the University of Bonn have now performed a systematic investigation of the extent to which rare genetic variants may also contribute to this disorder. For this purpose, they analyzed the genetic sequences of 72,469 male participants from the UK Biobank project. The analyses identified five significantly associated genes, and further corroborated genes implicated in previous research. The results have now been published in the prestigious scientific journal Nature Communications.

Male-pattern hair loss is the most common form of hair loss in men, and is largely attributable to hereditary factors. Current treatment options and risk prediction are suboptimal, thus necessitating research into the genetic underpinnings of the condition. To date, studies worldwide have focused primarily on common genetic variants, and have implicated more than 350 genetic loci, in particular the androgen receptor gene, which is located on the maternally inherited X chromosome. In contrast, the contribution to this common condition of rare genetic variants has traditionally been assumed to be low. However, systematic analyses of rare variants have been lacking. “Such analyses are more challenging as they require large cohorts, and the genetic sequences must be captured base by base, e.g., through genome or exome sequencing of affected individuals,” explained first author Sabrina Henne, who is a doctoral student at the Institute of Human Genetics at the UKB and the University of Bonn. The statistical challenge lies in the fact that these rare genetic variants may be carried by very few, or even single, individuals. “That is why we apply gene-based analyses that first collapse variants on the basis of the genes in which they are located,” explained corresponding author PD Dr. Stefanie Heilmann-Heimbach, who is a research group leader at the Institute of Human Genetics at the UKB at the University of Bonn. Among other methods, the Bonn researchers used a type of sequence kernel association test (SKAT), which is a popular method for detecting associations with rare variants, as well as GenRisk, which is a method developed at the Institute of Genomic Statistics and Bioinformatics (IGSB) at the UKB and the University of Bonn.

Possible relevance of rare variants in male-pattern hair loss

The research involved the analysis of genetic sequences from 72,469 male UK Biobank participants. Within this extensive data set, Bonn geneticists, together with researchers from the IGSB and the Center for Human Genetics at the University Hospital Marburg, examined rare gene variants that occur in less than one percent of the population. Using modern bioinformatic and statistical methods, they found associations between male-pattern hair loss and rare genetic variants in the following five genes: EDA2R, WNT10A, HEPH, CEPT1, and EIF3F.

Prior to the analyses, EDA2R and WNT10A were already considered candidate genes, as based on previous analyses of common variants. “Our study provides further evidence that these two genes play a role, and that this occurs through both common and rare variants,” explained Dr. Stefanie Heilmann-Heimbach. Similarly, HEPH is located in a genetic region that has already been implicated by common variants, namely the EDA2R/Androgen receptor, which is a region that has consistently shown the strongest association with male-pattern hair loss in past association studies. “However, HEPH itself has never been considered as a candidate gene. Our study suggests that it may also play a role,” explained Sabrina Henne. “The genes CEPT1 and EIF3F are located in genetic regions that have not yet been associated with male-pattern hair loss. They are thus entirely new candidate genes, and we hypothesize that rare variants within these genes contribute to the genetic predisposition. HEPH, CEPT1, and EIF3F represent highly plausible new candidate genes, given their previously described role in hair development and growth.” Furthermore, the results of the study suggest that genes that are known to cause rare inherited diseases affecting both skin and hair (such as the ectodermal dysplasias) may also play a role in the development of male-pattern hair loss. The researchers hope that the puzzle pieces they have discovered will improve understanding of the causes of hair loss, and thus facilitate reliable risk prediction and improved treatment strategies.

The research was supported by funding from the Medical Faculty of the University of Bonn. Prof. Dr. Markus Nöthen, Director of the Institute of Human Genetics at UKB and co-author of the study, is a member of the Transdisciplinary Research Area (TRA) “Life and Health” at the University of Bonn. The publication costs in open access format were funded by the DEAL project of the University of Bonn.


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Canadian dollar edges higher as retail sales rebound

Canada retail sales climb 2% The Canadian dollar has posted losses on Friday. In the European session, USD/CAD is trading at 1.3446, down 0.28%. Canada’s…

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  • Canada retail sales climb 2%

The Canadian dollar has posted losses on Friday. In the European session, USD/CAD is trading at 1.3446, down 0.28%.

Canada’s retail sales jump

Canada’s retail sales rebounded in impressive fashion on Friday. Retail sales in July jumped 2% y/y, following a -0.6% reading in June and beating the 0.5% consensus estimate. On a monthly basis, retail sales rose 0.3%, up from 0.1% in June but shy of the consensus estimate of 0.4%. The good news was tempered by the August estimate, which stands at -0.3% m/m and would be the first decline since March. The Canadian dollar showed little reaction to the retail sales release.

The Bank of Canada doesn’t meet again until October 25th and policy makers will have plenty of data to monitor in the meantime. The BoC has been walking a tightrope that will be familiar to most central banks, that of trying to balance the risks of over and under-tightening. The difficulty in finding the right balance was highlighted in the BoC summary of deliberations of the policy meeting earlier this month.

The BoC decided to hold the benchmark rate at 5.0% after concluding that earlier rate hikes were having an effect and slowing economic growth. The summary indicated that policy makers were concerned that a pause might send the wrong message that rate cuts might be on the way. With inflation still above the BOC’s target, the central bank is not looking at rate cuts and stressed at the September meeting that rate hikes were still on the table and that inflation remained too high.

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USD/CAD Technical

  • USD/CAD is testing resistance at 1.3468. The next resistance line is 1.3553
  • 1.3408 and 1.3323 are the next support lines

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Quantitative Tightening Is Not Biggest Threat To Global Yields

Quantitative Tightening Is Not Biggest Threat To Global Yields

Authored by Simon White, Bloomberg macro strategist,

The Bank of England’s…

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Quantitative Tightening Is Not Biggest Threat To Global Yields

Authored by Simon White, Bloomberg macro strategist,

The Bank of England’s quantitative tightening program shows that unwinding central-bank bond portfolios, even with outright sales, need not be disruptive for markets. The greater risk for US and global yields comes from positive stock-bond correlations driving risk premia wider.

The BOE has been a pioneer and a thought leader in QT. While the Fed and ECB have only allowed bonds to run off naturally to help achieve their balance-sheet contraction goals, the BOE has sold gilts outright in addition to allowing bonds to mature.

So far, it has not led to any significant market disruption. This enabled the BOE Thursday to increase the pace of reduction in the Asset Purchase Facility (APF) from £80 billion last year to £100 billion over the coming 12 months from October (while holding Bank Rate steady). As colleague Ven Ram also noted, the schedule of maturing bonds next year allowed the bank to keep gilts sales unchanged from last year while increasing the total amount of the APF’s decrease.

The QT watchwords from the bank are “gradual and predictable.” If gilt sales are conducted in such a way, then market disruption should be minimized. The chart below shows the BOE’s own assessment of the impact of bond sales on the market.

The BOE estimates that of the ~40 bps of term-premium increase since the MPC voted to begin QT in February 2022, about 10-15 bps comes from QT specifically – small in comparison to the overall rise in yields since that time.

QT or bond sales, though, are not the most critical risk facing bond prices in the current cycle. Rising and now positive stock-bond correlations threaten to lead to a structural rise in bond risk premium, and lower prices. The correlation is now positive in the US, Japan, and the UK.

In a positive stock-bond correlation world, bonds lose their portfolio-hedge and recession-hedge capabilities, and thus become less sought after. The penny has not fully dropped yet, but the negative term premium for bonds is increasing, and is prone to rising much higher as they become less desirable.

Yields of developed market countries are biased structurally higher, but QT is unlikely to be the culprit. Instead, it allows central banks to reload their capacity for a future time when they may need to restart quantitative easing, in order to stabilize the market from sharply rising term premia.

Tyler Durden Fri, 09/22/2023 - 09:10

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