Why global vaccine crisis is a test of capitalism Why global vaccine crisis is a test of capitalism Rich-country governments should, in particular, consider how to pay for the renovation and expansion of facilities in the developing world to prepare them to make vaccines under licence. Mihir Sharma 26 April, 2021 9:18 am IST Text Size: A+ The 2008 crash tested financial globalization. In 2020, the chaos of the early months of the Covid-19 pandemic led many to question the world’s dependence on complex global supply chains. These last few months, however, as vaccination programmes have taken off in some parts of the world and stalled in others, have raised even deeper doubts about globalization and the capitalist system. Unless governments act soon, capitalism itself could face a crisis of credibility.