Economics
Summers Says Preparing for Pandemics Like Buying Amazon Early
- Summers says G-20 governments should spend, coordinate now
- Former Treasury secretary in Venice to talk to G-20 meeting
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Former U.S. Treasury Secretary Lawrence Summers told governments that spending now to prepare for fighting future pandemics was the equivalent of buying stock in Amazon.com Inc. in its early years.
Speaking from Venice, where he gave advice to a meeting of Group of 20 finance chiefs, Summers said the cost of getting ready now for coronavirus-style health emergencies would be in the low tens of billions of dollars.