This year’s Two Sessions produced an unexpectedly lively discussion over one small number. China says it is now “investing in people”. Rural pensioners may be forgiven for wondering when it begins.
Many of the elderly farmers must remember the iron rice bowl of the socialist era. The commentary urges a more human capitalism. But around the world, the relative mass prosperity that capitalism sometimes delivered is long gone.
Another area in which China could productively spend its HUGE currency reserves is healthcare. In addition to improving everyday life, it has the added benefits of raising per-person productivity and driving growth in skilled medical personnel.
Spending on pensions + healthcare + infrastructure would launch a revolutionary improvement in the average citizen's quality of life, and accelerate the rapid growth of the Chinese economy.
Many of the elderly farmers must remember the iron rice bowl of the socialist era. The commentary urges a more human capitalism. But around the world, the relative mass prosperity that capitalism sometimes delivered is long gone.
Political economy of China. Aircraft carriers and top-tier semiconductors are important; impoverished farmers not so.
Another area in which China could productively spend its HUGE currency reserves is healthcare. In addition to improving everyday life, it has the added benefits of raising per-person productivity and driving growth in skilled medical personnel.
Spending on pensions + healthcare + infrastructure would launch a revolutionary improvement in the average citizen's quality of life, and accelerate the rapid growth of the Chinese economy.