In an apparent response to the rebalancing calls, the new five-year plan proposals call for greater investment in people including subsidies to encourage child birth, an extension of free education, strengthening pensions and insurance and boosting rural incomes.
China must “combine improving people’s livelihoods and boosting consumption by closely integrating investment in things with investment in people”, Xi said.
❤️🔥
12
SouffleHuman @lemmy.ml - 1mon
This really is why socialist planning is indispensable. Capitalist economies can build unfathomable wealth (for a few people), but is unable to translate that into genuine well being for the people. China spends far less on healthcare than the US, whether you count per capita, % of GDP, or total spending. And yet China has a longer life expectancy and lower infant mortality rate. The vaunted efficiency of free markets has completely failed to materialize in this sector.
yogthos in sino
China calls for ‘extraordinary measures’ to achieve chip breakthroughs
https://www.ft.com/content/a0d51b13-de0a-43f7-b0d7-6cf44643269dhttps://archive.ph/lhQ77
❤️🔥
This really is why socialist planning is indispensable. Capitalist economies can build unfathomable wealth (for a few people), but is unable to translate that into genuine well being for the people. China spends far less on healthcare than the US, whether you count per capita, % of GDP, or total spending. And yet China has a longer life expectancy and lower infant mortality rate. The vaunted efficiency of free markets has completely failed to materialize in this sector.
exactly