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  • China: Once the Biotech Patient, Now the Doctor

    It seems that China is in race to out-America, America. Now comes one of our most regarded industries — “biotechnology,” where scientists and engineers find cures and innovation for global populations. And while America’s biotech industry has experiencing hard times, China has doubled-down its investment.

    It seems that China is in race to out-America, America. Now comes one of our most regarded industries — “biotechnology,” where scientists and engineers find cures and innovation for global populations. And while America’s biotech industry has experiencing hard times, China has doubled-down its investment.

    In the Fortune article, China, The Next Biotech Superpower, David Ewing Duncan states, “Meanwhile, across the Pacific Ocean, the Chinese government has decided that now is the time to take some of its massive national reserves of cash and launch a spending spree on biomedicine — $308 billion over the next five years. “The development priorities of the 12th Five-Year Plan – biopharmacy, bioengineering, bioagriculture, and biomanufacturing – will bring benefits to Chinese people,” said Chinese State Councilor Liu Yandong at a recent meeting, according to China Daily. The article in this state-funded newspaper goes on to report the ambitious goals of this investment: “From 2011 to 2015, it is expected to generate 1 million jobs, extend people’s life expectancies by one year and reduce the infant mortality rate to 12 percent, as well as reduce emissions of the most common pollutants by 10 percent, Ma elaborated.”

    The more the United States concedes its biotech lead, the more China becomes opportunistic. You can’t blame China for being ambitious, but you have to wonder what is the next gamechanger plan from the United States within the industry: it doesn’t look good.

    Good luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals
    calvin.wilson1@verizon.net
    http://twitter.com/Upstart__Nation

    Filed Under: Global Business

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