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Mr. Shobert kicked off the event by talking about China’s priorities in the early 1980’s, which then only consisted of massive economic development plans. Shobert discussed how China, like America during the industrial revolution, compromised their personal health for economic wealth. He then spoke about China’s foreign direct investment life cycle. He explained that foreign companies in China are welcomed
when needed, but are eventually shown the door when domestic counterparts are able to replace them.
According to Shobert, this phenomenon has been happening since the medieval days of Chinese emperors and dynasties.
Mr. Shobert extensively talked about the promise of China’s healthcare economy. He talked about the billions of dollars spent by the Chinese on healthcare every year, and he showed a survey that explained how the Chinese value healthcare spending above anything else. He discussed the geographic differences of China, which is one of the biggest countries in the world and the home to 1.3 billion people. He then highlighted how motivated the government is in seeking the best healthcare for all their people.
Shobert also talked about the perils and the challenges of China’s healthcare economy. Initially, he gave generalized comments regarding business laws not being implemented and applied to local companies. He highlighted how global pharmaceutical companies are coping with this disadvantage, and he also touched based on the challenges of building a medical staff/team in China.
Towards the end his speech, Mr. Shobert emphasized the expectations of the Chinese economy. He said he believed that the glory days in the 1990’s and early 2000’s of double digit growth every year have passed, and we could expect China to grow “only” at around 7.5% of its GDP per year.
Nevertheless, he reminded everybody that China is still a land of massive growth, and that big opportunities remain for
companies seeking to do business there.