During President Richard Nixon’s historic 1972 trip to China, the press asked China’s premier Zhou Enlai to comment on the French Revolution’s impact on world affairs. Zhou famously replied, “Too early to say.”
For British novelist Charles Dickens, the French Revolution was a period of change and turmoil filled with plenty of evidence for hope and ample cause for despair. As he wrote eloquently in A Tale of Two Cities:
China says the United States has waged a trade war, while America’s intelligence agency is now terming it as a China-led cold war. Nevertheless, the trade brouhaha continues. Trumponomics ceases to be rhetoric anymore, and Xinomics is candidly reciprocal. In fact, neither countries were striving for autarky, nor is the situation as grim as it was in the 1930s. Yet the present scenario is destined to reach alarming proportions, as its spillover effect has begun to deter the global value chains (GVCs) that perennially define the geo-economic architecture of international business today.
The relationship between FinTech firms and incumbent financial institutions appears to be entering the next phase of their evolution. The first two items in this week's newsletter explore how FinTech has transformed finance and provide a context for strategic partnerships that can produce results.
In well-functioning healthcare markets, governmental regulatory policies ensure access, safety, quality and privacy. The government’s most important role is creating level-field competition through balanced regulation, targeted enforcement actions and price/outcomes transparency. Unfortunately, many healthcare markets do not function efficiently.
The Centers for Medicare and Medicaid (CMS) is not uniformly supporting pro-market reforms. Two recent CMS decisions diminish competitiveness and hurt consumers in key healthcare market segments.
This newsletter marks the end of the longest hiatus I’ve taken from FinTech Rising since I started it in October 2014. In the midst of a large client acquisition, I’ve taken the time to review the newsletter, plan some forthcoming content, and complete our initial product, FinTech Rising 2018: Toward a Golden Age of FinTech (use code FTR-SUB).
Co-Authored with Andy Waldeck.
Amid much fanfare, the Amazon, Berkshire Hathaway, JP Morgan health venture (ABJ) announced on June 20th that its new CEO will be acclaimed author and surgeon Atul Gawande. Gawande starts his new job this week at ABJ’s new headquarters in Boston, Gawande’s hometown. We wish you well Atul. Your country needs you.
Mexico matters. In addition to being our southern neighbor, Mexico is our third largest trading partner, after China and Canada. It is ranked as the 15th largest economy in the world. On Sunday the country experienced a seismic change in leadership. Fueled by anger at violence and corruption, Andrés Manuel López Obrador, the 64-year old populist center left candidate best known as AMLO, was elected by a clear majority in all but one state and a simple majority in both houses. He had promised to Make Mexico Great Again.