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Medicine

Submission + - The $443 Million Smallpox Vaccine that Nobody Need 2

Hugh Pickens writes writes: "Once feared for its grotesque pustules and 30% death rate, smallpox was eradicated worldwide as of 1978 and is known to exist only in the locked freezers of a Russian scientific institute and the US government. There is no credible evidence that any other country or a terrorist group possesses smallpox, but if there were an attack, the government could draw on $1 billion worth of smallpox vaccine it already owns to inoculate the entire US population and quickly treat people exposed to the virus. The vaccine, which costs the government $3 per dose, can reliably prevent death when given within four days of exposure. David Williams writes that over the last year, the Obama administration has aggressively pushed a $433-million plan to buy an experimental smallpox drug, despite uncertainty over whether it is needed or will work. So why did the government award a "sole-source" procurement to Siga Technologies Inc., whose controlling shareholder is billionaire Ronald O. Perelman, a longtime Democratic Party donor, calling for Siga to deliver 1.7 million doses of the drug for the nation's biodefense stockpile at a price of approximately $255 per dose. "We've got a vaccine that I hope we never have to use — how much more do we need?" says epidemiologist Dr. Donald A. Henderson who led the global eradication of smallpox for the WHO. "The bottom line is, we've got a limited amount of money.""
China

Submission + - The End of Cheap Labor in China (time.com) 3

hackingbear writes: The Time magazine reports, in what is supposed to be a land of unlimited cheap labor — a nation of 1.3 billion people, whose extraordinary 20-year economic rise has been built first and foremost on the backs of low-priced workers — the game has changed. In the past decade, real wages for manufacturing workers in China have grown nearly 12% per year. The hourly cost advantage, while still significant [comparing to the West], is shrinking rapidly. The changing economics of Made in China will benefit both the rich and poor world. Countries like Cambodia, Laos, India and Vietnam are picking up some of the cheapest labor manufacturing left by the Chinese. And there is already evidence of at least the beginning of a shift in manufacturing operations returning to the U.S. Perhaps we will soon stop picking at "Made in China" but instead complaining "Made in Vietnam/Cambodia", while serving the flood of Chinese tourists stocking up brand-name merchandises on US tours and Chinese students paying high tuitions to our cash-strapped universities.

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