Thursday, June 01, 2006

More on China's Economic Enigma

If capitalist China can regulate prescription drug prices, why can't socialist America?

Xinhua reports:

"The Chinese government has cut the retail prices of 67 drugs used for the treatment of cancer by a range of anywhere from 23 percent to 57 percent in a response to public complaint over soaring prices for drugs and medical services....Of the 67 drugs, 23 used to have their prices determined by the market. They were included on the list of drugs whose prices are fixed by the government last year."


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