Word: spend
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...Wulings in stock. Sales are up some 40% this year, Xu says, with about 50 customers a day driving off with new minivans. "From what I see, people are changing very dramatically," Xu says. "Before people thought: I only buy what I need. Now people are starting to spend for a better or more comfortable life...
...problem, says Hedrick-Wong and other economists, is that the average Chinese still faces too much uncertainty about the future to spend more freely. China's social safety net systems remain weak, forcing Chinese families to squirrel away large sums to care for elderly parents, pay rising medical bills and prepare for retirement. Aware of the problem, the Chinese government has been taking steps to beef up welfare programs to alleviate the financial burden faced by Chinese families and loosen their purse strings. Beijing, for example, is undertaking a three-year, $125 billion program to build hospitals and clinics...
...economists say Beijing's measures aren't going far enough. Huang Yasheng, professor of political economy at the MIT Sloan School of Management, says that the government needs to do much more to accelerate the income growth of poor Chinese if consumer spending is to play a bigger role in the economy. The average Chinese, he says, doesn't have as much cash to spend as many people think. Actual household income per capita is only about half of GDP per capita, compared to 80% or more in other major economies, placing "a cap," Huang says, on consumer spending...
...Global Fund's new plan proposes to solve this public-health crisis with a market-based solution. To undercut sales of counterfeits and alternative treatments, the Global Fund initiative will spend more than $220 million to subsidize genuine, effective combination-therapy drugs, and in Cambodia, it will spend an additional $10 million to ensure good distribution around the country. The idea was first proposed in 2004 by a committee of the Institute of Medicine headed by Kenneth Arrow, a winner of the 1972 Nobel Prize in Economics. The idea is that if the market is relied on to root...
...crazy. You fixate on the substance rather than on the substantive problems. We hear anecdotes all the time of friends showing up drunk and with broken ankles, yet only treated—with a sneer—for the alcohol. The psychological trauma of having to spend any time in a hospital (where no hospitality is to be found) is hard enough as is without having those who are supposed to “help” only helping increase our sense of shame...