Most countries, no matter what strategy they are pursuing, are operating towards an end goal of an effective vaccine.
There are four basic strategies that countries are deploying. Which one a country has gone with depends on a mix of good or bad luck, and good or bad management.
Eradication – getting rid of all community spread cases within borders through extreme government restrictions, test, trace and isolate strategy and quarantining all new arrivals within borders. New Zealand and Iceland are examples of this strategy.
Elimination – reducing cases within borders to minimum as before but without an expectation of completely removing community spread cases, using strong test, trace and isolate systems to reduce spread. Australia, China, Hong Kong, Taiwan, Vietnam etc are pursuing this.
Suppression – reducing cases to a level manageable by the health system through varying levels of government or state-mandated restrictions. US, most of Europe, UK are pursuing this, or ostensibly pursuing this.
Mitigation - effectively letting the virus spread through the community to hopefully achieve herd immunity, with light levels of government or state-mandated restrictions. Sweden is explicitly pursuing this and Brazil is doing so by omission. Ultimately these countries will still need a vaccine to avoid future outbreaks as immunity wears off or naturally reduces through population turnover.