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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?


To: Elroy Jetson who wrote (2823)7/18/2019 10:13:01 AM
From: elmatador  Respond to of 13798
 
A.I. can improve health care in China, says Ping An Technology CEO
Published Tue, Jul 9 2019 1:48 AM EDT

Saheli Roy Choudhury








Key Points

  • Artificial intelligence is still a relatively new technology, but Ping An Technology CEO Ericson Chan says its applications are already generating real value.
  • Chan pointed to the Chinese health-care sector where about 8% of the hospitals handle more than half of all patients in China, which results in long waiting times to see a doctor.
  • Ping An has developed AI-powered technology services that it claims can predict chronic illnesses and infectious diseases with high accuracy as well as scan large volumes of medical images for abnormalities at a relatively short time.




Ericson Chan, chief executive officer of Ping An Technology.
S3studio | Getty Images

Artificial intelligence is still a relatively new technology but one business leader said its applications are already generating real value.

For AI to become more mainstream, start-ups and tech giants have to understand the bottlenecks that businesses face, which can be solved by that technology, according to Ericson Chan, CEO of China’s Ping An Technology.

“Look at China, for example — only 8% of the hospitals are triple-A grade,” he told CNBC’s Arjun Kharpal on Tuesday at the RISE Conference in Hong Kong. “But that 8% of the hospitals are taking care of more than 50% of the patients of the whole nation.”

As a result, resources are unevenly distributed, which, in turn, sours the patients’ experiences at those hospitals, he said.

“You need to wait for more than three hours before you can see a doctor, and the consultations are no more than 7 or 8 minutes,” Chan said, adding that the doctors, meanwhile, “need to work for more than 12 hours a day.”

That’s where AI can help ease the friction experienced by patients and health-care providers.

Ping An Technology is a wholly owned subsidiary of a major conglomerate in China, Ping An Group. The company’s focus is on applying various technologies, including artificial intelligence, in areas such as health care, finance and smart cities.

It has developed AI systems that it says can predict the likelihood of a patient suffering from a specific chronic illness even before physical symptoms are present, or identify infectious diseases in advance with high accuracy. Its programs claim to be able to spot abnormalities in medical image scans that would normally take doctors a much longer time to do manually.

“We can take it down to like five minutes, so it’s a lot more efficient, a lot more accurate, also,” Chan said. “Afterwards, we can even have AI technologies do follow up with the patients.”



To: Elroy Jetson who wrote (2823)7/21/2019 2:48:13 AM
From: elmatador  Read Replies (1) | Respond to of 13798
 
China’s population numbers are almost certainly inflated to hide the harmful legacy of its family planning policy

But Beijing’s mishandling of the country’s population figures has been clumsy and easy to spot. China’s real population in 2018 should be 1.280 billion, instead of the officially announced 1.395 billion

China has inflated its population data so much that its status as the world’s most populous country may be falseThis happens so provinces can get education subsidies and Beijing can hide the results of decades of family planning

China’s official demographic figures, including the now-cliched “country of 1.4 billion people ”, seriously misrepresent the country’s real population landscape. The real size of China’s population could be 115 million fewer than the official number, putting China behind India in terms of population.

This massive error, equal to the combined populations of the United Kingdom and Spain, is a product of China’s rigged population statistics system, influenced by the vested interests of China’s family planning authority.

To start with, the raw data of China’s population figures were “adjusted”. China’s total fertility rate, or the number of kids per woman throughout her life, dropped below the watershed level of 2.1 in 1991, from which moment the population size of the next generation would be smaller than the current one, and the average total fertility rate was 1.36 in 1994-2018, according to data from census and surveys. However, the family planning authority in charge of the country’s population control refused to believe the numbers and “adjusted” the rate to 1.6-1.8 and, accordingly, the official population size.

For instance, the real total fertility rate in 2000 was 1.22, according to a census result, but the government revised it to 1.8. Accordingly, the country had 14.1 million new births in 2000, but the government revised the figure by 26 per cent to 17.7 million. A census, which is conducted every 10 years, should provide the truest picture of China’s demographic situation. But for the 2000 census, the government was unhappy about the original finding of 1.24 billion and revised it up to 1.27 billion.

One incentive to inflate population size is that China’s family planning authority needs to present a picture of a “rapidly growing population” to justify the country’s brutal family control policies and even the very existence of the birth control apparatus.

The basis for these adjustments, according to the Chinese government, is the size of primary school enrolment. For the official statisticians, the primary school enrolment data should be reliable because public education covers every Chinese child. They were wrong, however, because primary school enrolment data in China is often inflated so that local authorities can claim more education subsidies from Beijing.

In 2012, one school in Anhui was found over-reporting its student size by 42 per cent to claim subsidies, and another school in Hubei province was discovered in the same year over-reporting student size by more than 300 per cent – and these two cases are the tip of an iceberg.

According to a report by CCTV on January 7, 2012, the Jieshou city in Anhui province reported 51,586 primary school students, when the actual number was only 36,234, allowing them to extract an additional 10.63 million yuan (about US$1.54 million) in state funding. On June 4, 2012, China Youth Daily reported that a middle school in Yangxin county, Hubei province reported 3,000 students, while the actual number was only 700.

The latest census in 2010 also shows the tendency of over-reporting. For example, the original aggregated population of Fujian province was only 33.29 million, which was revised to 36.89 million. China’s government claimed it found 1.34 billion people during the census, but there were inconsistencies. For instance, government data showed that China had 366 million new births in 1991-2010, but the group aged 0-19 in 2010 census was only 321 million.

The official number of births in 2011-2018 is also overestimated by 40 million. While Beijing is overestimating new births, it is underreporting the other end of population change – death. Some Chinese families have a tendency of not reporting deaths to the government in order to keep receiving social welfare.

Also, according to UN data, there was a net international emigration of 8 million from China in 1991-2018. But Chinese officials ignored this data.

It’s not an easy job to get a country’s population number right. This is especially true in China, where the territory is vast and domestic migration is frequent.

But Beijing’s mishandling of the country’s population figures has been clumsy and easy to spot. China’s real population in 2018 should be 1.280 billion, instead of the officially announced 1.395 billion. China's economic, social, political, educational and diplomatic policies are all based on false demographic data. After decades of brutal implementation of birth control, often involving forced abortions and hefty fines, maybe it’s time for China to review its population figures carefully to take stock of the economic and social costs of this controversial demographic experiment.

Yi Fuxian is a senior scientist at the University of Wisconsin-Madison and author of Big Country with an Empty Nest



To: Elroy Jetson who wrote (2823)7/21/2019 8:33:59 AM
From: elmatador  Respond to of 13798
 
It would be ironic if China's "white knight" savior from the "repocalypse" is none other than the Fed.

Alas, here too there is more back news: unlike now, in late 2016 China’s economy was improving and so was corporate creditworthiness. That is no longer the case, and as such, investors should keep a very close eye on China’s money markets in the days ahead to make sure that the spike to 1,000% was a one-off event. One or more such unprecedented lock ups in the interbank market, and a repo market freeze that until now was relegated to a handful of banks and brokerages will promptly "contaminate a fragile financial ecosystem", one which as the Baoshang shock of May 24 shows, is no longer unreservedly backstopped by Beijing.


Something Just Broke In China As Repo Rate Soars To 1,000% Overnight
zerohedge.com