Chinese Economics Thread
- Thread starter Norfolk
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That's interesting because I know a lot of mainland Chinese in Canada who actually goes back to China to get exams and investigations done instead of waiting for free in Canada. And it's just a 2-3 months wait at most.
My ex-gf and out mutual friends and their families are doing exactly what the folks you know are doing.
The notion that health care in China on average compared to how it is in the U.S. as expensive is beyond laughable.
Maybe the additional cost of travel and accommodation effectively increased the cost for medical treatment,
Hence the difference in perception. Could be wrong and waiting for Igloo's response.
Medical treatment in Canada is also known for the long waiting time.
I should clarify, the 2-3 month wait is for Canada. Even then many go back to China for next day private pay investigations
I know a few who went back for cancer treatment and tumor resection
lcloo
Captain
I think medical treament costs in US and Canada are among the highest in the World. China is not cheap either, especially as a percentage of average earning of her citizens. As to why people from Canada and USA go to China for treatment, I think the major factor isthat the costs in China is relativelt cheap as a percentage of their income in USA and Canada. Also another reason could be the waiting time for appoinment.
The main difference is the gap of average income between people in China and those in USA and Canada. Thus people from North America would naturally think that medical expenses in China is not expensive but local Chinese people would think otherwise.
To be objective, I asked Microsoft Copilot AI chatbot the same question as above posters, and the reply is a below.
The cost of medical treatment varies significantly between China, Canada, and the USA. Let’s break it down:
The main difference is the gap of average income between people in China and those in USA and Canada. Thus people from North America would naturally think that medical expenses in China is not expensive but local Chinese people would think otherwise.
To be objective, I asked Microsoft Copilot AI chatbot the same question as above posters, and the reply is a below.
The cost of medical treatment varies significantly between China, Canada, and the USA. Let’s break it down:
- United States (USA):
- The U.S. has higher prices for most health care services and prescription drugs compared to other high-income countries.
- Despite having fewer office visits and shorter average hospital stays, the U.S. spends twice as much per person on healthcare than comparable countries.
- Per capita spending for health costs in the U.S. .
- .
- China:
- International-standard medical care in China is relatively expensive because it is not supported by the State system. Hospitals are essentially privately run.
- .
- .
- Canada:
- Canada spends less per person on healthcare than the U.S.
- .
This article tries to understand the surge of Chinese exports around the world and offer several theories as to why this is happening. And its goes into the usual stuff about overcapacity fueled by subsidies and a few other theories.
But they are simply missing the point that the reason why Chinese exports are surging is because people around the world wants to buy Chinese made products as it gives the people the best price quality equation.
China can offer this because of a vertical supply chain integration as its industry controls more of the processes that turns the raw materials into the final products. Another reason is that they are integrating the most advanced technologies into its manufacturing supply chain from 5G to robotics, 3D printing, material science, AI, big data and much more. This is from design to production to logistics. There is also the enormous internal market and therefor she can produce products on mass in a way that other countries cannot.
The article does go into the fact that China does not only go into a couple of new technologies but she actually does everything. They are able to do this because of it has the money as its has a high savings rate and about 800 billion dollars trade surplus a year. They have the talent to do this as it produces the multiple of either the US or Europe when it comes to STEM graduates. Another reason they can do this because of its enormous internal markets as it has a bigger chance to recoup its investments than other countries.
But they are simply missing the point that the reason why Chinese exports are surging is because people around the world wants to buy Chinese made products as it gives the people the best price quality equation.
China can offer this because of a vertical supply chain integration as its industry controls more of the processes that turns the raw materials into the final products. Another reason is that they are integrating the most advanced technologies into its manufacturing supply chain from 5G to robotics, 3D printing, material science, AI, big data and much more. This is from design to production to logistics. There is also the enormous internal market and therefor she can produce products on mass in a way that other countries cannot.
The article does go into the fact that China does not only go into a couple of new technologies but she actually does everything. They are able to do this because of it has the money as its has a high savings rate and about 800 billion dollars trade surplus a year. They have the talent to do this as it produces the multiple of either the US or Europe when it comes to STEM graduates. Another reason they can do this because of its enormous internal markets as it has a bigger chance to recoup its investments than other countries.
The reality is that the world, led by moves in the US and EU, is becoming more protectionist. It may not ever get as bad as the Age of Mercantilism when countries actively blocked trade except between their colonies and so every great power was incentivized to colonize as much as possible, but still trends are shifting.
The question is what is China doing or should be doing to adapt and exploit this new reality.
The question is what is China doing or should be doing to adapt and exploit this new reality.