US Policy on China’s Economic Policies Questioned by Senators – Get’s Complicated When US Health Insurance Com
Posted Jun 10 2010 8:18pm
I3 an Ingenix subsidiary bought ChinaGate, who provides product-development regulatory services for pharmaceutical, medical device and biotechnology companies looking to enter and access the Chinese market and that include the US. I guess with the layers of subsidiaries now we have ChinaGate, a subsidiary of I3, who is subsidiary of Ingenix, who is a subsidiary of United HealthCare. When ownership is sometimes strung out into such a long line, it gets confusing as to what money from what company is going where.
At a time when economic policies with terms and conditions are being questioned, does this activity seem to fall right into that area? We all know about how insurance companies want to drive down cost so apparently terms of US trade don’t seem to mean anything here right? This is an investment in strategies and not just a product marketed overseas from a US office here and the over all intent here is to provide dividends for stock holders, no matter what, right? This kind of bugs me a bit based on all the past history of technology rip offs using algorithmic formulas to make money and then later bring brought to court, and those cases with Ingenix are mounting. Where lies any corporate responsibility here. Anyway I think this is something the Senators might want to question if we are talking ethics and fair competition with China and the US.
You can visit the page and see there’s the promotion of pharma, cosmetic skin care food supplements and more. Again with all the disparity in the US and healthcare reform issues along with past history, I think this is a good example of where corporate responsibility should be looked at or at least questioned as now through subsidiary actions the health insurance company has access to regulatory companies and more. There’s a ton of private equity firms buying up companies and having them all work together in business that were formerly not related, but they are now. We just should be aware of what goes on behind the scenes as there’s a lot of this type of activity. BD
WASHINGTON — Key senators from both parties criticized the Obama administration on Thursday for not taking a stronger line on China ’s economic policies, which many in Congress believe unfairly disadvantage American businesses and workers.
Timothy F. Geithner , the Treasury secretary, said the administration was committed to securing a “level playing field,” but in testimony before the Senate Finance Committee, he could offer only a few tangible accomplishments from the annual bilateral summit he attended in Beijing last month.
As both economies struggle to recover from the recession , longstanding complaints have gotten louder that China gives unfair support to its export-oriented manufacturers, fails to abide by World Trade Organization agreements, permits the theft of American intellectual property and protects its domestic industries from competition from abroad.
The top Republican on the committee, Senator Charles E. Grassley of Iowa, criticized the administration’s decision to delay the release of a foreign exchange report in which the United States could find that China had manipulated its currency, the renminbi , keeping its value artificially low to stimulate exports.
“The test of these things is not what people say and it’s not how many meetings you have,” Mr. Geithner told her. “The test is what actually happens to the terms and conditions that U.S. companies compete on.”