Summer School 2021 <Contemporary Europe> Session 10 > Summer School at KU

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      On July 7th, Dr. Heungchong Kim returned for another lecture, titled Covid-19, Vaccines & Economic Recovery. Dr. Kim started the class by summarizing the coronavirus outbreak and giving recent updates about vaccination and the Delta variant. He stressed that the virus disproportionately affected several underdeveloped countries. 

     In the first hour, Dr. Kim explained the vaccine's role as a game-changer in fighting the pandemic crisis. Specifically, he focused on whether countries should waive the patent for vaccines to facilitate their distribution to developing countries.

     In the next hour, Dr. Kim illustrated the economic impact of the virus and the EU's efforts to mitigate the damage. The pandemic hit the world with a recession three times bigger than the global financial crisis. To alleviate this recession, the EU implemented tax exemptions, distributed government-backed loans, and stimulus checks. In addition, the EU provided income and revenue support for companies and furloughed workers.

     At the end of the session, Dr. Kim explained how the recession during the Covid-19 crisis is different from the previous economic crises. Thanks to Dr. Kim's informative lecture, students learned in great depth about the pandemic's impact on the world economy.