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Chinese Demand For Health And Business Opportunities For Western Medicine Industries.How Industrial Policy Might Encourage The Link

Author

Listed:
  • Marco R. Di Tommaso

    (University of Ferrara)

  • Lauretta Rubini
  • Stuart Schweitzer

Abstract

The analysis starts from the recognition of the difficulties that both Europe and the US are facing in dealing with the current economic crisis and of the emergence of a new middle class in China with increasing needs in terms of welfare. This paper suggests that the exportation of high-­-quality, health-­-related goods and services from the West to China could represent a possible way to support knowledge-­-intensive sectors in Europe and the US on one side, while allowing a growing part of the Chinese population to access advanced health goods and services on the other. In terms of industrial policy, this means to facilitate the destruction of barriers to entry in the China market (unfair competition, predominance of traditional Chinese medicine and producer-­-consumer information asymmetries) but also the creation or the enforcement of innovation networks that are a pre-requisite to maintain a high quality level in the production of Western Medicine products and services.

Suggested Citation

  • Marco R. Di Tommaso & Lauretta Rubini & Stuart Schweitzer, 2014. "Chinese Demand For Health And Business Opportunities For Western Medicine Industries.How Industrial Policy Might Encourage The Link," Working Papers 1407, c.MET-05 - Centro Interuniversitario di Economia Applicata alle Politiche per L'industria, lo Sviluppo locale e l'Internazionalizzazione, revised Dec 2014.
    • Handle: RePEc:cme:wpaper:1407
    as

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    References listed on IDEAS

    as
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    3. J. Robert Branston & Lauretta Rubini & Roger Sugden & James R. Wilson, 2005. "Healthy Governance: Economic Policy and the Health Industry Model," Chapters, in: Marco R. Di Tommaso & Stuart O. Schweitzer (ed.), Health Policy and High-Tech Industrial Development, chapter 2, Edward Elgar Publishing.
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    More about this item

    Keywords

    R&D collaboration; project failure; public research institutions;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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