David Ng goes over several key indicators in China’s healthcare system to see how China’s public healthcare system holds up. With medical advances driving up healthcare expenditure and a fast-ageing people, the most populous nation of the world has got its work cut out.
Lance Gore analyses that the knowledge economy offers great potential for bettering the lives of people. But capitalism may not be the best route to take. Power in the hands of a few, income gaps, job losses and wage cuts in the digital age bear this out. Can China offer a third way as it seeks to marry socialism with a market economy? The West is already considering some proposals with a socialist bent such as the Universal Basic Income (UBI). Surely, proponents of socialism can think of even more revolutionary ideas?
Zheng Yongnian says China must not get ahead of itself. Recent statistics prove that 600 million people indeed earn a monthly income of just 1,000 RMB. China’s earlier reforms had led to equitable growth, but income disparity has increased with rapid economic development since it joined the WTO. As it stands, the bottom strata of Chinese society remain huge while China’s relatively small middle class continues to suffer in an inadequate social system. Rather than sweep these issues aside in a bid to glorify the country’s achievements but downplay its shortcomings, China must take a hard look at itself and focus on pursuing equitable growth.