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Daniel McFadden, presidential professor of Health Economics and Policy at the University of Southern California, argues that Chinese healthcare reform can improve the country’s economy. The government has recently published a guideline to support the healthcare reform this year, in order to improve 31 health fields.

The statement said that this guideline will be able to improve medical services in public hospitals and adjust their prices, enhance medicine purchasing in country level hospitals and settle policies for the traditional Chinese medicine. Professor McFadden believes that the reforms would improve the situation in the cities, while they would not work very well in some rural areas, where the government has to face many challenges on the health issue.

He has underlined that, in these last years, China’s growth is mainly related to the exporting sector than the domestic consumption, a strategy that cannot be continued indefinitely. Due to a weak system of social insurance, individual savings rates have been extremely high in China, a thing that has driven people not to spend their money.

According to McFadden, who received the 2000 Nobel Prize in Economics for developing methods and theory used in analyzing how consumers and households make choices from sets of discrete alternatives, it is necessary to have an improved consumer sector in which citizens spend the money they earn on goods rather than saving that money for the health costs in the future.

The Chinese government is taking measures to encourage the opening of private hospitals, but the Nobel laureate thinks that  health sector is one of the sectors in the economy where the public control is actually important.

The most efficient healthcare systems around the world, in terms of keeping people healthy and less costly, are the ones where the community medical providers are either employed by the government or employed by companies that are largely contracting with the government and not operating as separate businesses, as McFadden said.


The gLAWcal Team

Friday, June 6, 2014

(Source: Want China Times)

This news has been realized by gLAWcal—Global Law Initiatives for Sustainable Development in collaboration with the University Institute of European Studies (IUSE) in Turin, Italy and the University of Piemonte Orientale, Novara, Italy which are both beneficiaries of the European Union Research Executive Agency IRSES Project “Liberalism in Between Europe And China” (LIBEAC) coordinated by Aix-Marseille University (CEPERC). This work has been realized in the framework of Workpackages 4, coordinated by University Institute of European Studies (IUSE) in Turin, Italy.