Subject: China Aims to Build Cheapest Healthcare With Lower Drug Prices
I have often been heard to say that we have two main systems in the world today – a capitalist market economy and a socialist market economy. But they face fundamentally similar challenges. One of the biggest is health and welfare which is the largest cost in Western national budgets.
The story below captured that China has spent over twenty years examining the Western health models and designed its own.
The middle classes will buy their own mainly through insurance
The employed and their families, and retirees and their families, will be funded and organised by a contributory system substantially funded by employers. Probably substantially by insurance.
The vulnerable, disabled unemployed will be handled by funds created by the state and getting substantial funding from dividends from state owned enterprises.
The story below blows the lid off the Western costs and explains the Gsk story.
It is a lesson for all governments, and the lessons will not stop at welfare and health.
ps thanks Keith for the feed