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Quest Means Business
Wall Street Rallies on U.S. Infrastructure Deal; England Adds Malta, Madeira, Balearic Islands to Green List; The Future of the American Worker; Theater, Concert Promoters Sue U.K. Over Capacity Limits; COVID-19 Cases Surging in Countries Using Chinese Vaccines; Cape Cormorant Rescue Operation; Prince Charles Highlights COVID-19 Impact on Young People. Aired 3-4p ET
Aired June 24, 2021 - 15:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[15:00:21]
MAX FOSTER, CNN INTERNATIONAL HOST: Stocks are shaking off inflationary concerns to reach new record highs. The Dow up more than 300 points. Those
are the markets and these are the main events.
"We have a deal." Investors cheering as Joe Biden scores a breakthrough on his infrastructure plan.
Mixed messages for European travelers, meanwhile, England opens its borders to more international tourists as Germany proposes tighter restrictions.
And America's biggest bank, JPMorgan, urges its quarter million employees to get vaccinated before returning to the office.
Live from London, it is Thursday, June 24th. I'm Max Foster, in for Richard Quest. This is QUEST MEANS BUSINESS.
Now tonight, "we have a deal." The U.S. President said he has enough lawmaker support now to pass a $1.2 trillion infrastructure plan. Joe
Biden's agreement with the bipartisan group of senators falls well short of his original plan and his more than $2 trillion price tag, but it is
historic. For years, both Republicans and Democrats have pushed for more infrastructure spending. Mr. Biden says this agreement shows the U.S. can
do anything when it works together.
(BEGIN VIDEO CLIP)
JOE BIDEN (D), PRESIDENT OF THE UNITED STATES: There is nothing our nation can't do when we decide to do it together, do it as one nation. Today is
the latest example of that truth in my view. I'm pleased to report that a bipartisan group of senators, five Democrats, five Republicans, part of a
larger group, have come together and forged an agreement that will create millions of American jobs and modernize our American infrastructure to
compete with the rest world known in the 21st Century
(END VIDEO CLIP)
FOSTER: News of the deal in Washington inspired that rally on Wall Street. The S&P 500 hit intraday highs and is on pace for a record close again.
CNN's Ryan Nobles is on Capitol Hill for us. Ryan, this wasn't what Joe Biden wanted, but it does help him, doesn't it, hugely, with his domestic
agenda?
RYAN NOBLES, CNN CONGRESSIONAL CORRESPONDENT: There is no doubt about that, Max. This is a huge obstacle that the Biden administration has
crossed by getting this bipartisan deal with both Republicans and Democrats. But the President did make it clear in his remarks that he
understands, that they still have a long way to go before there's actually a piece of legislation on his desk that he is going to be able to sign.
And that means that in addition to this big package that they brokered with Republicans, they are also going to have to push through a companion
infrastructure package that is going to be much more than this bipartisan package and will only be passed with Democratic support.
That is going to be a to pass the bipartisan package because there are a lot of progressive and more liberal members of the Democratic Party that
aren't necessarily that enamored with this bipartisan package. They want to see much more.
So what Biden and the House Speaker, Nancy Pelosi and the Senate Majority Leader, Chuck Schumer have agreed to is what they are calling a dual track
in terms of this legislation. They're going to pass the bipartisan piece of legislation at the same time that they pass this much bigger infrastructure
bill. It could be as much as $4 trillion.
They hope to pass one with Republican support, one with only Democratic support, and have them both on President Biden's desk by the fall. It is
going to be a lot of work to do in a relatively short period of time, and it is also going to try to convince a lot of people here on Capitol Hill
that are still very skeptical of both of these plans to get on board -- Max.
FOSTER: The number here, the amount of money is eye watering, isn't it? How is it being paid for, if I can ask you that? I know it is not a simple
answer.
NOBLES: Yes, that's a good question, especially because essentially this bipartisan package -- or the deal that was hatched today, they claim they
are going to be able to pay for most of it without raising any taxes on most Americans, and that includes somewhere in the range of $500 billion in
brand new spending.
And what they are going to do is basically take money from other pots of the Federal government and put spite this pot to pay for it. They are also
going to do things like making more strict tax recipient guidelines, in other words, using the Internal Revenue Service to make sure that they are
collecting all the taxes available from most Americans to the Federal government.
They are going to increase user fees in some areas, but they are also going to take a big chunk of that massive COVID-19 Relief Bill that they passed
not too long ago that has gone unspent, a lot of that money particularly for unemployment benefits has not been used. They are going to put that
into this infrastructure package.
[15:05:04]
NOBLES: There are still a lot of skeptical people that think that they can do this all without raising taxes at all, and Max, there is also the
expectation that this next round of funding, this reconciliation package, as it is called, which could be in the $4 trillion range, that could mean a
tax particularly on wealthy earners the next time that comes around.
So, at some point along the line, they are going to have to raise taxes. But at this point, this initial plan, the almost $1 trillion plan, they
claim they can do without raising a single tax.
FOSTER: Okay, Ryan in Washington. Thank you very much, indeed.
Meanwhile here in Europe, more travel confusion.
Moments ago, England updated its travel list with quarantine free travel. Top holiday destinations such as Malta, Madeira, and the Balearic Islands
are amongst those that have been added. The U.K. government is facing tense pressure from the travel industry to open up more quickly or just clear
about how they're opening up.
Some E.U. leaders meanwhile are pushing to add mandatory quarantines in response to the highly infectious delta variant which is becoming rife here
in Europe.
Cyril Vanier is in London. Make sense of this new list for us. Which countries are involved and what does it mean for travelers on both sides of
the coin?
CYRIL VANIER, CNN CORRESPONDENT: All right, all right. Let's take it in stages then so that we can try to make this clear. Stage one starts next
week and it is for England residents. Travelers now have an extended list of countries that they can go to without having to quarantine upon their
return. This is green list of countries.
It was just updated moments ago by the U.K. government. As you mentioned, Madeira has been added on that. The Balearic Islands have been added, which
is important because that includes Ibiza, a popular tourist spot for British travelers, and there are some Caribbean Island there as well.
So British travelers, even unvaccinated, could go to those countries, you know, get a Caribbean getaway and come back without having to quarantine,
Max, that's number one.
Number two, and I think is just as important, if not more important, the U.K. is signaling that it is going to soon change its travel policy to
reflect the fact that so many people here and in some other countries around the world are now vaccinated. Sixty percent of adults here are fully
vaccinated, Max. And so far, it has made zero difference to the travel restrictions, right?
I'm fully vaccinated. I went to France recently because I had to. I came back and I had to quarantine. So, I did ask myself, what was the point,
purely from a travel point of view, what was the point of getting vaccinated? It wasn't reflected in the policy. It will now be reflected in
the policy. And the U.K. government is saying that fully vaccinated travelers will be able to go to so-called amber list countries.
Now, this is a much bigger list of countries, most of the world really, apart from the worst COVID spots and they will be able to go to those
countries and come back quarantine-free to the U.K.
We don't know when it will be put in place. They've said only that they will do it this summer. It also means that residents of those countries, so
think most of Europe, think the U.S. for instance, who have been fully vaccinated will be able to come to the U.K. without having to quarantine --
Max.
FOSTER: It is not necessarily going to create a boon in travel, presumable, because this list is a floating list, it is a watch list, isn't
it? So, it could change at any moment and there have been these horrible stories, haven't there, of travelers who have gone away and then suddenly
told they have to come back and paying double the price for flights.
So, are people going to have the confidence, do you think, to travel based on this new list?
VANIER: Well, I mean, I think based on what we saw in the last few weeks, people should be wary. They really should be. Portugal is the precedent, I
think that you're referring to, so people went to Portugal because it had been put on the green list, but of course, the green list can be revised
and it was just as many fans were in Portugal following the Champions League final.
And they were told, well, either you scramble back or if you're not back within the next -- I think it was 24 to 48 hours, when the deadline hits,
then you will have to quarantine upon your return. And so, some people got burned by that.
So, you're right. I think there is going to be some degree of caution on account of that, and there is another factor here, Max, that we haven't
discussed yet is that it takes two to tango. It is all well and good for the U.K. government to set unilaterally its travel policy, but let's not
forget the delta variant here has caused a surge in infections, and it has European neighbors highly worried.
A number of countries already are imposing quarantines on U.K. travelers. Strict quarantine in Germany, strict quarantine in Italy, and Belgium
starting Saturday is actually banning U.K. travelers. And at a European Summit today, E.U. leaders have been pushing for more unity on their travel
policies.
So, it may be that U.K. travelers will soon find themselves with few destinations in Europe that they can go to without having to quarantine
when they arrive.
[15:10:00]
FOSTER: Cyril Vanier in London. Thank you for bringing us up to date with that very confusing picture.
Tourists will face a much more cautious approach in the European Union, meanwhile. Last hour, French President Emmanuel Macron called for a
coordinated response to opening E.U. borders. He appears to be backing Angela Merkel. The German Chancellor says the highly contagious delta
variant has put the E.U. on thin ice.
She wants E.U. members to quarantine people coming from countries with the variant that is spreading including the U.K.
(BEGIN VIDEO CLIP)
ANGELA MERKEL, GERMAN CHANCELLOR (through translator): We are obviously concerned about the delta variant. I will lobby for a more coordinated
approach, particularly with regard to entries from regions where virus variants abound.
(END VIDEO CLIP)
FOSTER: It is the strongest sign yet that the spread of the delta variant is threatening to derail Europe's travel recovery.
Take a look at all the countries where it is being detected. The European C.D.C. says the variant is spreading so fast, it is on track to make up 90
percent of new COVID cases in the European Union by the end of August.
Now, the Indian government says the delta plus variant first detected there has spread mostly outside India and is reported in nine other countries.
Tom Jenkins is the CEO of the European Tourism Association. He is in Wales for us.
I mean, it is a really difficult situation, isn't it, for travelers. But for your industry, I mean, how on earth are you managing to plan anything
when every government seems to have a different policy and keeps changing it all the time?
TOM JENKINS, CEO, EUROPEAN TOURISM ASSOCIATION: I think you're right. How on earth? I think the difficulty is, as you've pointed out, the travel
industry adds value by planning and you can't make plans at the moment. So, it is really a very difficult time.
I think one of the strange things that's happening is that most of the dialogue, certainly in Europe, is surrounding whether or not the principal,
big outbound nations are going to allow their people to travel.
So, you're hearing in the U.K., the discussions entirely is, as to where the U.K. can go to. What is totally missing from this is the discussion of
the inbound problem. And tourism into the U.K. is a vast industry. It is a 45 billion industry, and it is not there at the moment and it is utterly
crucial to the service economy of the U.K.
At the moment, there is very little discussion of it. Fifty percent of the street for instance, the main shopping street in London relies on foreign
visitors for spending. So, this is a severe problem they've got.
FOSTER: This new system that the U.K. is looking towards is if someone is double vaccinated, they'll be able to travel to a wider range of countries.
That seems like commonsense to many travelers. I mean, we are not -- you and I aren't medical experts. We're not here to decide what the best thing
is for the variant.
But in terms of travel, a lot of people are wondering why they double vaccinated when it doesn't actually give them any more freedoms? But that's
probably something that you would sympathize with, presumably.
JENKINS: Well, it is entirely sensible and logical. What is strange is this has been mooted now for two to three weeks, and it is still edging on
to the agenda. I believe Boris Johnson today said that double vaccination creates a real opportunity for relaxing travel restrictions.
The use of real a qualifying adjective by the current Prime Minister is slightly alarming. The reality, along with truth can be sacrificed for
operational necessity fairly rapidly. And I think there is not a lot of -- there is not a lot of certainty.
I think underneath all this, I would stress that it is looking as though the system is going to start opening up. All the nations of Europe are
starting to make it clear or the E.U. at any rate, starting to make it clear that American visitors are welcome, particularly American visitors
who have got double vaccinations.
And I think the direction of travel at the moment is going to be towards more relaxation. Though, in all truth, the delta variant may be the
complicating factor.
FOSTER: Well, you say that because obviously, the delta variant is growing pretty rapidly in the United States. And Merkel and Macron indicating that
they are going to close down countries effectively or travelers from countries where the delta variant is spreading very quickly so that may not
be the case.
And it may not -- you know, there is going to be another variants that follow. So, those European governments seems --
JENKINS: I mean, we could probably also note, it is spreading -- sorry. We also note, it is spreading rapidly in Europe, so you know, they are in a
real bind. You never quite know whether or not -- how far these guys are playing together or not.
I think the other interesting question is that what pressure is going to be placed on Spain if the U.K. have opened up access to the Balearics, and
Angela Merkel is saying that British people should be quarantined upon arrival in the E.U.
[15:15:20]
JENKINS: Never forget, the second, the first or second most important market for the Balearics is Germany. So, Angela Merkel has attacked that,
which is as important if not more important than the U.K. one.
FOSTER: Most difficult for everyone, isn't it, this situation? It's difficult for politicians to come out with policies that everyone is happy
with as well, but Tom Jenkins, thanks for giving us the tourism industry's point of view on it.
Amazon has a new adversary. Coming up, the powerful Teamsters Union says it will organize Amazon workers after previous efforts failed.
(COMMERCIAL BREAK)
FOSTER: JPMorgan is banking on its employees getting vaccinated. America's largest bank is pushing its staff of a quarter of a million to get
vaccinated before they return to the office after the Fourth of July holiday. The company is signaling that it could eventually mandate
employees to get the shot.
Many American workers are reassessing their careers and their futures as the coronavirus pandemic recedes. A recent survey found nearly half say,
they are rethinking the type of job they want moving forward. Work-life balance has been difficult. A quarter of workers say they never put
personal commitments ahead of their jobs.
Nearly 40 percent are providing care for someone else. That survey was conducted on behalf of Prudential, and Rob Falzon, the Vice Chair of
Prudential joins us now. Anything in this report, Rob, that really stood out to you?
ROB FALZON, VICE CHAIR, PRUDENTIAL: Well, Max, yes. So first, we've been doing a series of surveys since 2017. This is the 13th in that series of
surveys and this was really a follow-on to something we're calling the Great Rethink, which was, you know, the number of employees that were
actually contemplating changing their career that this period in the pandemic has caused them to sort of take an inventory of their careers and
their career opportunities.
And so what jumps off the page of the report is that over half the employees, half of American workers would move to not just a different job,
but an entirely different industry or field given the opportunity to do so, and that one in four appear to have one foot out the door in that they have
made a decision that they are going to change employers when we get to the other side of the pandemic.
[15:20:11]
FALZON: And it appears to us the drivers to that have a lot to do with what their experience has been during the pandemic. They are looking for
some ongoing work-life balance. So, flexibility with regard to that.
They are very concerned about job security and skills that they haven't been able to develop while they've been remote. So, they're looking for
opportunities to upskill and get into sustainable jobs, and then obviously, compensation and benefits become an important component of that decision
making as well.
FOSTER: Compensation and benefits becoming less important compared with flexibility. If you're comparing the two elements.
FALZON: Yes. When surveyed and asked what they want in their new jobs, compensation actually moves down to third in the rank of things that they
identified for us. That flexibility, job security, and skilling, those move up to one and two.
FOSTER: Did you get a sense, you know, everyone keeps talking about how people got used to working from home. They've seen the advantages there and
they don't want to go back to the office. I know, I am not speaking for everyone, but a large chunk of workers, we hear that about -- I mean, what
have you seen in your research? This is just, that's the case. Because there are also of course, lots of people who can't wait to get back to the
office.
FALZON: Yes. So, you know, interesting statistics that come from the series of surveys. In our most recent survey, we saw around like 87 percent
of the workers that were surveyed had indicated that they have a desire to keep remote as some component of their work on a go forward basis.
Our own internal surveys within our company, we had 91 percent of our employees who said the same thing. Now, here is what's interesting, Max.
They also said that -- 40 percent of them said approximately that if they were asked to come back full time, they would quit their jobs. And another
40 percent said that if they were entirely remote, they would quit their jobs.
And so, you have -- I think, the vast majority of employees are saying that you know, some element of remote work and the flexibility that that
provides in terms of that work-life balance is something that they aspire for as they come back into the workplace and you know, we've come through
the other end of the pandemic and companies begin to call their workers back into the office.
FOSTER: A lot of this is about caregivers, isn't it? The caregivers, they are the ones that want to be at home. The parents, you know, struggle to
balance -- they are worrying about going back into work. But they had those commitments prior to the pandemic, didn't they? Is your sense that they've
learned to appreciate the caregiving part of their lives more since being at home, or that something has changed that doesn't allow them to go back.
FALZON: Yes. A couple of elements to that. First, take any statistic that we looked at that relates to stress, a lack of skilling, contemplating or
actually leaving employment, and double it for caregivers, vis-a-vis the general population, so caregivers, their experience during this has been 2x
the experience of the general population.
That's why I think that comes into play in terms of their emotions on a go forward basis and how they are sort of reassessing now. We've all been
dealing with the pandemic where infrastructure has largely been down. And so, you haven't had elder care, you haven't had childcare, and that has put
an enormous amount of stress on those that are -- you know, have those responsibilities.
Expectation is when we go back into work, particularly if we're going into work in some remote sort of hybrid environment, that care giving is going
to change on a go-forward basis. And that what I think what the average American worker is saying, is listen, there were some good experiences
coming out of pandemic that I learned.
And remote work and the flexibility that it gives me to find a better balance between work and life, both with regard to time and space. So,
where I'm working and when I'm working is something I'd like to retain on a go-forward basis.
So, I do think there's an element of reassessment of options that employees would put a higher priority only that than they might have pre the
pandemic.
FOSTER: It leaves companies with a lot to think about as well, doesn't it, going forward in terms of their employee relations. Rob, thank you very
much, indeed for joining us from Prudential.
Now, Amazon workers looking to unionize are getting some serious back up. The powerful international Teamsters Union with its 1.4 million members
says it will fund the nationwide effort to organize workers at the company.
Clare Sebastian spoke with the man leading the effort for the Teamsters. She joins us now. You know, efforts have been made with Amazon in this
sphere before. Why are they so confident they can get this through now?
CLARE SEBASTIAN, CNN BUSINESS CORRESPONDENT: Well, Max, I think it is not at all clear that they are going to succeed, but certainly, there is a lot
of manpower, as you say, behind this effort.
One point four million members of the International Brotherhood of Teamsters in the U.S., a lot of that in the logistics and warehousing
industry, where of course, Amazon is major force. UPS employees are members of the Teamsters. They said that they're looking for something new, a sort
of unified nationwide approach, but they're not giving away a lot when it comes to their tactics.
[15:25:07]
SEBASTIAN: But bear in mind, this means that this will be an effort funded by dues from these union members. And it is just altruism, Max, they are
doing this because they are worried that Amazon is driving down wages and safety standards in the industry.
Listen to what Randy Korgan, the National Director for Amazon at the Teamsters told me today.
(BEGIN VIDEO CLIP)
RANDY KORGAN, NATIONAL DIRECTOR FOR AMAZON AT THE TEAMSTERS: A UPS driver in 1996 was making $20.50 an hour. That's 25 years ago. You would be hard
pressed to find an Amazon driver today making $20.50 an hour. So, there's a gap there that they've created. They may have a narrative to say that they
are offering something comparative, but comparing themselves to the minimum wage is irresponsible.
This job is a tough job, it is an important job. Now, the pandemic has taught us that it is a very important job to our economy and we believe
that the American citizen, that consumers across the globe respect how hard that job is and how important it is to get that package delivered to your
front door.
(END VIDEO CLIP)
SEBASTIAN: I reached out to Amazon for comment, they have not gotten back to me, Max, but look, this is clearly a major commitment from the
Teamsters. This is going to define their policy for the next five years, and there was a high profile effort by one Amazon facility in Bessemer,
Alabama to unionize early this year. That vote was resoundingly against unionizing, but the Teamsters say that this really sort of raised the issue
and gave it a lot of publicity and that will put force behind their efforts as well, though, experts do say, they're going to face an uphill battle.
FOSTER: Yes, it is going to be a tough one. Thank you very much, indeed, Clare.
Coming up, a Cinderella story of a different kind. Can British theater reclaim its magic even after the horrors of COVID-19? We spoke to London's
Night Czar, next.
(COMMERCIAL BREAK)
FOSTER: Hello, I'm Max Foster. There is more QUEST MEANS BUSINESS in just a moment when I'll be speaking to London's Night Czar about the impact of
the U.K. government's decision to delay its reopening, and also the CEO of the Prince's Trust. He tells me how the younger generation of workers are
increasingly choosing careers to help solve the world's biggest challenges.
[15:30:26]
Before that, though, the headlines this hour.
(HEADLINES)
FOSTER: The U.K. government is facing a lawsuit over capacity limits of theaters and live music venues. Leading the charge is Andrew Lloyd Webber,
the renowned composer. said he is willing to put himself on the line for the sake of his new musical, "Cinderella."
(BEGIN VIDEO CLIP)
(MUSIC PLAYING)
FOSTER (voice-over): Carrie Hokes Lecture (ph) there, reflecting much of the mood in theater land. Lloyd Webber said he would defy capacity rules to
open the show full house even if he got arrested.
For the first 12 months of the pandemic alone, U.K. theaters lost an estimated $275 million. Amy Lame is London's night czar. It's her job to
help make sure the city thrives around the clock.
This is not just a U.K. story, is it?
The West End is renowned around the world. It is a key driver for tourism in Europe, let alone the U.K.
AMY LAME, LONDON'S NIGHT CZAR: Yes, it is, Max. Great to see you. London's nighttime economy makes a huge contribution to life in our capital. But
this is and has been the toughest challenge that we have faced in a generation.
Venues closed their doors for the first lockdown. Saw their income completely collapse and many still haven't opened their doors again. I said
in advance of the government's decision to delay Freedom Day, that business have to be given enough advance notice.
And the financial support that they need to ensure they can open their doors again when the time is right.
FOSTER: What do you make of Andrew Lloyd Webber's suggestion that he is going to stick to the capacity limits, break the capacity limit rules and
risk going to prison?
LAME: Well, I think it is important that we all follow the rules. But I understand his distress because we are in danger of losing countless
businesses, jobs and livelihoods. So it is absolutely essential that the government provides urgent, comprehensive financial support to help them
through this period of uncertainty.
Hospitality, night time and cultural sectors, they want to trade their way back to viability but they need the support so that they can play that full
role in the economic and social recoveries of our city.
That's why this week, I joined with nighttime economy advisers from other cities here in the U.K., Greater Manchester and Bristol, calling on the
chancellery to support U.K.'s nighttime industries.
We need extension of full business rates, holiday, we need extension of the current furlough scheme. We also need to support live events and festivals
with a government-backed guaranteed insurance scheme. So if the government doesn't step up now, they're really letting us down at the final hurdle.
FOSTER: I understand that. But you just said you think people should stick to the rules. So you do think he's wrong to do that. It's a step too far.
LAME: Well, I think that everyone has been following the rules for so long.
[15:30:00]
LAME: And it would be a shame at this moment in time to break those rules because we have got this far and we've been so successful in keeping the
virus under control because businesses have kept their doors closed, because they have been operating at reduced capacity.
So we want businesses to be ready to open when the time is right. You know, I urge everyone --
(CROSSTALK)
FOSTER: It could do more harm than good if we see him being handcuffed and walking away because any industry could then say, we won't stick to our
rules because it doesn't make commercial sense for ourselves when this is - - the priority here is health.
LAME: Look, I understand his distress because there are countless businesses across London and across the U.K. that are feeling just as
distressed. But they are following the rules.
And you know, they're waiting to reopen fully when the time is right. This is a very fine balance between health and the economy. And we have to make
sure that we're following government guidelines, following the guidelines.
But the government can do more to step up and support these businesses if they expect them to be closed. Everyone was expecting to be reopen last
week. That didn't happen. So for that reopening to happen fully and properly, then they need to step up and support businesses.
FOSTER: We were talking earlier with someone from the European tourism industry, saying the problem here, everyone is sort of part of the effort
to tackle this pandemic. But it doesn't help when politicians aren't really clear. They can't be entirely clear.
But their strategy is changing so industries like yours can't plan. And that's incredibly difficult when you're someone like Andrew Lloyd Webber,
who has a show, which takes years to set up and get going.
LAME: Yes. We have been asking for advance notice of these things. But I think it is also important to realize that this virus has caught all of us
by surprise. It is an ever-changing landscape. So we have to remain nimble with these things.
There are other ways the government can support businesses. The mayor of London and I launched a 2.3 million pound culture risk support fund to
support the most at-risk cultural venues in our cities.
We need the government to step up and do the same at this very moment because while Andrew Lloyd Webber represents one end of the spectrum, there
are lots of others, smaller grassroots venues and businesses that are suffering very badly.
FOSTER: OK. Amy Lame, thank you very much indeed, it's a really troubled industry, as you say.
There has been a worrying spike in COVID cases in some places where vaccination rates are already high. There's one thing they have in common:
they're mainly using vaccines produced in China. David Culver has more on what's going on.
(BEGIN VIDEOTAPE)
DAVID CULVER, CNN INTERNATIONAL CORRESPONDENT (voice-over): China's portrayed it as an act of goodwill, shipping Chinese-made vaccines to other
countries even before guaranteeing enough for its own citizens. State media reporters 350 million doses have gone out to more than 80 countries.
Among the nations on the receiving end, neighboring Mongolia; and in South American, Chile. Both countries mobilized quickly to put those vaccines to
use. In Mongolia, more than 52 percent of the population has been fully vaccinated; Chile, just a bit less.
They are among the highest vaccination rates in the world alongside countries like the U.S. and Israel.
But why is that as cases are dropping in those countries, Mongolia and Chile are seeing surges of new COVID-19 infections?
Last week, Mongolia hit a record high in daily case counts. And authorities in Chile announced a blanket lockdown across its capital, Santiago, two
weeks ago.
BEN COWLING, DIVISION OF EPIDEMIOLOGY AND BIOSTATISTICS, UNIVERSITY OF HONG KONG: So many places where there's relatively high vaccine coverage and
social distancing measures have been relaxed, it may be that those measures were relaxed a little bit too soon.
CULVER (voice-over): One of the most striking differences, the types of vaccines. While the U.S. and Israel turned to Pfizer, BioNTech and Moderna,
Mongolia and Chile are relying heavily on two from China, Sinovac and Sinopharm. My team and I based here in China received our two doses of
Sinopharm in recent months.
The efficacy rates of the Chinese-made vaccines containing inactivated virus range from about 50 percent to 79 percent; whereas, U.S.-based Pfizer
and Moderna, using mRNA science, are more than 90 percent efficacious.
Though the environments in which they were all trialed varied with different variants of the virus circulating, the American-backed ones
appear to be much better at preventing transmission compared with China's vaccines.
COWLING: Right now, what we can see very clearly is the antibody level in people who received BioNTech is much higher.
[15:40:00]
COWLING: Much, much higher than the antibody level in people who received Sinovac.
CULVER (voice-over): The WHO authorized both Sinovac and Sinopharm for emergency use despite the Chinese companies behind them providing limited
clinical trial data. But medical experts warn while less effective, this does not mean the Chinese vaccines are a failure.
COWLING: Somewhere like Chile, somewhere like Mongolia, vaccines have saved a lot of lives but maybe they haven't been able to stop the virus
from spreading and causing mild infections in vaccinated people.
And the, of course, the potential for more severe infections in people who haven't yet been vaccinated. And that's one of the limitations of less
effective vaccine.
CULVER (voice-over): While overall cases in Mongolia and Chile are on the rise, the vaccines may be helping lower the severity of those cases.
DR. SANJAY GUPTA, CNN CHIEF MEDICAL CORRESPONDENT: If you look across the board in countries that have higher vaccination rates, those
hospitalization rates, those death rates -- while they may move around a little bit they are probably a lot better now than they would have been
without the vaccines. Because the vaccines, more than anything else -- regardless of which one it is -- help protect against severe illness and
death.
CULVER (voice-over): To better stop the spread of the virus countries like Bahrain and the UAE, which have also relied heavily on China's Sinopharm,
are now offering their citizens a third dose as a booster. The choices, a third shot of Sinopharm or they can use the Pfizer vaccine as their
booster.
The development and distribution of vaccines has become highly politicized, especially between the U.S. and China.
And if both countries refuse to recognize each other's vaccines that could keep you limited to crossing borders based on the vaccine you've gotten,
essentially preventing international travel from returning to near normal for years to come.
(END VIDEOTAPE)
FOSTER: Coming up, the prince, the pandemic and the problem facing so many young people right now. We hear from Prince Charles about the impact of
COVID-19 on the young. And I speak exclusively to the head of his Prince's Trust International charity.
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FOSTER: It's time for "Call to Earth," where we continue to report on protecting marine life around the world. Now the presence of healthy sea
birds are an indicator of ocean health.
[15:45:00]
FOSTER: Usually if the birds do well, so, too, is the ecosystem as a whole. When 2,000 cormorant chicks were found abandoned off the coast of
Cape Town, it triggered the second largest rescue operation the region has ever seen. Take a look.
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UNIDENTIFIED FEMALE (voice-over): It's swim time at the Sanghof (ph) Sea Bird Rescue Facility in Cape Town, where these young Cape cormorants have
spent the last six months being prepared for life in the wild.
UNIDENTIFIED MALE (voice-over): Before they get released, they really need to learn as quickly as possible how to get food for themselves, so they
must be able to fly and they must be able to swim underwater, catch fish and then come out and still be dry so they don't get cold and wet.
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UNIDENTIFIED FEMALE (voice-over): In January 2021, some 2,000 chicks were found abandoned by their parents on Robben Island, nearly 60 years after
Nelson Mandela was first imprisoned on its rocky shores.
UNIDENTIFIED FEMALE (voice-over): So these parents were probably already struggling to find enough food for their chicks. Then it was very hot days
so they just came to a point where they just couldn't deal and they decided to rather abandon their chicks and basically save their own lives.
UNIDENTIFIED FEMALE (voice-over): That's when the South African Foundation for the Conservation of Coastal Birds swooped in.
UNIDENTIFIED FEMALE (voice-over): So in total we rescued over 2,000 chicks. It is actually the second largest rescue ever undertaken here in
the western Cape.
UNIDENTIFIED MALE (voice-over): So they were very weak, dehydrated and overheated. Their first few days were really tough. We couldn't save them
all so we lost more than half our little chicks in the first few days. But after that, things got a lot better.
UNIDENTIFIED FEMALE (voice-over): To help as many to survive as possible, the team had to take extreme measures.
UNIDENTIFIED MALE (voice-over): So when we feed them, we don't want them to think of people as a source of food. We've been wearing black outfits to
hide the human shape and to ensure that when putting food on there, they don't think it is a person doing it.
And it's worked very well. Now they associate this black flowing robe with the supplement feeding. But if someone walks in in normal clothes, they
don't try to mob you and (INAUDIBLE) food.
UNIDENTIFIED FEMALE (voice-over): Their efforts were rewarded. The foundation says, so far, over 1,000 rescued Cape cormorants have been
returned to nature.
UNIDENTIFIED FEMALE (voice-over): We do what we call a soft release. So we build an enclosure on Robben Island. They're still being fed there. They
can see the wild birds that are still roosting on the island. They can smell, they can hear them so they can get used to the environment.
After 48 hours, we open the gates and the birds are free to do whatever they want. Some of them maybe join the wild birds. Others stick around in
the enclosure. In the long run, we obviously learn that they learn to feed themselves and just reintegrate into the wild population.
UNIDENTIFIED FEMALE (voice-over): And much like a former inhabitant of this iconic island, bringing global attention to their plight.
UNIDENTIFIED FEMALE (voice-over): It is obviously nice for us to be able to rescue these birds and it helps a lot for their awareness. It is a huge
industrial fishing (INAUDIBLE) anchovies, which is obviously competing with our sea birds for the same resources. We know that climate change predicts
more frequent heat waves so we expect to see these abandonments actually happening more often unless we get a handle on the fish stocks.
Having these birds here has helped a lot to explain to people that they are endangered. It does give us hope to be able to do something and we have
raised the alarm bells to this rescue about the current (INAUDIBLE).
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FOSTER: We'll continue showcasing inspirational environmental stories like this as part of the initiative at CNN. So answer that call with the
#CallToEarth.
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[15:50:00]
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FOSTER: Prince Charles has been speaking about the impact of COVID-19 on young people. An event for his Prince's Trust charity which aims to help
vulnerable youths, the Prince of Wales said young people have been disproportionately affected financially. But he feels encouraging by the
fact that many of them believe their generation can help solve some of the world's biggest challenges.
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CHARLES, PRINCE OF WALES: Having confronted one of the greatest challenges in living memory, we now have an opportunity, I would suggest, to create
real lasting change for our world.
So what young people need is the chance to succeed. And that was really the basis of my Prince's Trust formation all those years ago. So I hope we can
tackle this real challenge, which has been building up for a very long time.
We've had enough discussion and argument. Now is the time for real action on the ground because we haven't got any time to waste anymore.
(END VIDEO CLIP)
FOSTER: In a CNN exclusive, I spoke to the chief executive of the Prince's Trust International, Will Straw, and asked him directly about the research
that suggests young people are being driven to take a leading role in helping transform industries like energy, transport, agriculture and our
oceans to make them more ecofriendly.
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WILL STRAW, CEO, PRINCE'S TRUST INTERNATIONAL: What we found with this research that spoke to 6,000 young people, age 18 to 35, from right around
the world, from Ghana, India, Pakistan, as well as the U.K., U.S. and Canada, was a very, very consistent view about both the kinds of industries
they're interested in working in but also what they expect from those companies, which is good ethical standards and companies that are making a
real difference to their communities and to the wider world.
FOSTER: Are you finding people turning down jobs even if you don't have the right credentials as a company?
It is not just about the money, the pension, that sort of thing.
STRAW: Well, through this research, which we launched today, but we've got focus groups taking place in many countries as well, it is trying to drill
down and answer that precise question. It is one thing to say you're interested in a job in these professions.
But what would you sacrifice?
Would you be willing to take a salary cut?
Would you be willing to turn down the job?
So we hope, over the course of this research, we'll be able to answer that question. But what the polls are showing today is that young people are
certainly making career decisions on the basis of those ethical and different standards that companies have.
FOSTER: You're working with chief execs.
Are they hearing that?
Are they honestly hearing that?
Are they adjusting and realizing that they might not get the right staff because they don't have the right policies?
STRAW: I think they are, yes. The conversation that we had today, attended by
His Royal Highness the Prince of Wales had representatives from over a dozen businesses, again, from right across the world, both those working in
finance, that are investing in businesses but also from businesses like MNS and National Grid, who are employing young people in these professions.
And I think what they hear loud and clear is that young people are expecting jobs to be sustainable, that young people are looking for those
ethical standards and that there's a real demand for young people not just to advocate and protest about climate change but to be agents of change as
well, to be able to make an impact with their careers.
We had a discussion about some of the things that businesses needs to see, some of the things that businesses are doing, some of the investments that
are being taken.
[15:30:00]
STRAW: But also the importance of education, of mentoring and so on. So it was a really rich conversation, showing that business is taking this agenda
seriously but also thinking about some of the challenges they face getting young people into these professions.
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FOSTER: If we break down some of the numbers, it says 78 percent of young people believe their generation can create solutions to some of the world's
biggest challenges; 74 percent of young people are interested in a green job.
But only 3 percent so far are working in the sector as their main job. The ambassador reiterated that the values are proving vitally important. He
told me employers need to take note.
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BEN JEWERS-PETTINGER, PRINCE'S TRUST: What are these companies giving back?
At the end of the day, the business is there to make money. That's now granted. But the amount of big companies there are nowadays, it feels like
the jobs are more secure. So that's about the equality of those jobs. And part of that is, are they helping people?
Are they good?
(LAUGHTER)
JEWERS-PETTINGER: At the end of the day, that would have worked for someone that you feel is a detriment to society and just there to make
money --
(CROSSTALK)
FOSTER: Because that reflects on you as an employee.
JEWERS-PETTINGER: Exactly.
(END VIDEO CLIP)
FOSTER: There are just moments left to trade on Wall Street. We'll have the final numbers and the closing bell right after this.
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FOSTER: A few moments left of trade on Wall Street. U.S. stocks hitting record highs. The Dow up more than 300 points as investors react to the $1
trillion infrastructure deal in Washington.
The SNP 500 and the Nasdaq both on pace for a record close as well, an incredible day, really. Let's look at the Dow components. Green on the
screen. A big boost from Biden's infrastructure breakthrough. Apple one of the few losers on the day. There were strong gains in Europe as well.
The Bank of England met to debate the time of stimulus withdrawal. The FTSE rose 0.05 percent whilst French stocks saw the biggest gains there. The Dax
was up 0.86 percent and Zurich SMI up a similar amount, 0.8 percent.
That is QUEST MEANS BUSINESS. The closing bell is about to ring on Wall Street. I'm Max Foster in London. "THE LEAD WITH JAKE TAPPER" starts next.
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