Page 23 - THE SOUTH CHINA BUSINESS JOURNAL
P. 23
TA HEALTH
Public-private
Over-regulating
data impedes partnerships
economic growth
will improve
Trend: Data flows are
becoming as important to global health Trend: In New
economic health as capital
flows. While the flow of data across York last month,
borders will continue to rise, the economic
growth derived from data and its movement health ministers
will be uneven: Unnecessarily burdensome
privacy, AI, and cybersecurity regulations stated that “health is
— along with forced localization measures
— will limit digital commerce. The result is the precondition for and an
these jurisdictions will see slower economic
growth rates and fewer jobs created. outcome and indicator of
Facts to Remember: By 2022, Ericsson the social, economic, and
has estimated the world will see 29 billion
connected devices; Cisco expects internet environmental dimensions
traffic to be three times what it was in 2017;
and cloud computing is expected to become of sustainable development.”
a $620 billion dollar industry by 2023. The
potential for economic growth is huge. Taking health policy out of the
Recommendations: Many of the vertical and into the horizontal
public policy questions raised by the
digitalization of the economy are real, but represents a new way of thinking
“command economy” solutions only slow
economic growth and development. Privacy about these critical issues. A
regulations must accommodate the promise
of AI; cyber security regulations need to whole-of-government, whole-of-
embrace the private sector as a partner;
and policymakers must accept the fact that business, and whole-of-society
data localization does absolutely nothing to
protect privacy or security. Rules facilitating approach can be more effective
digital trade should be adopted worldwide,
and the e-commerce negotiations at the for human health as well as
WTO should be fast-tracked to achieve
an ambitious outcome, but most of all business sustainability.
governments must limit their increasingly
misguided regulatory impulses. Facts to Remember: The
health of a population has a direct
impact on the productivity of
an economy. By 2030, the world
will lose 8.6% of its GDP to the
impacts of health-related workforce
absenteeism, presenteeism, and
early withdrawal.
Recommendations:
Governments must embrace
public-private partnerships in the
health sector — not just in hospital
infrastructure and management,
but in the development of new
health delivery models, technology
deployment, data collection, and
community outreach. Recognizing
this shared purpose among business
and government will contribute
to keeping citizens well, and it is
imperative that we improve the
ways in which we work together in
support of effective and efficient
health systems.
South China Business Journal 20
Public-private
Over-regulating
data impedes partnerships
economic growth
will improve
Trend: Data flows are
becoming as important to global health Trend: In New
economic health as capital
flows. While the flow of data across York last month,
borders will continue to rise, the economic
growth derived from data and its movement health ministers
will be uneven: Unnecessarily burdensome
privacy, AI, and cybersecurity regulations stated that “health is
— along with forced localization measures
— will limit digital commerce. The result is the precondition for and an
these jurisdictions will see slower economic
growth rates and fewer jobs created. outcome and indicator of
Facts to Remember: By 2022, Ericsson the social, economic, and
has estimated the world will see 29 billion
connected devices; Cisco expects internet environmental dimensions
traffic to be three times what it was in 2017;
and cloud computing is expected to become of sustainable development.”
a $620 billion dollar industry by 2023. The
potential for economic growth is huge. Taking health policy out of the
Recommendations: Many of the vertical and into the horizontal
public policy questions raised by the
digitalization of the economy are real, but represents a new way of thinking
“command economy” solutions only slow
economic growth and development. Privacy about these critical issues. A
regulations must accommodate the promise
of AI; cyber security regulations need to whole-of-government, whole-of-
embrace the private sector as a partner;
and policymakers must accept the fact that business, and whole-of-society
data localization does absolutely nothing to
protect privacy or security. Rules facilitating approach can be more effective
digital trade should be adopted worldwide,
and the e-commerce negotiations at the for human health as well as
WTO should be fast-tracked to achieve
an ambitious outcome, but most of all business sustainability.
governments must limit their increasingly
misguided regulatory impulses. Facts to Remember: The
health of a population has a direct
impact on the productivity of
an economy. By 2030, the world
will lose 8.6% of its GDP to the
impacts of health-related workforce
absenteeism, presenteeism, and
early withdrawal.
Recommendations:
Governments must embrace
public-private partnerships in the
health sector — not just in hospital
infrastructure and management,
but in the development of new
health delivery models, technology
deployment, data collection, and
community outreach. Recognizing
this shared purpose among business
and government will contribute
to keeping citizens well, and it is
imperative that we improve the
ways in which we work together in
support of effective and efficient
health systems.
South China Business Journal 20
