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    February 11, 2022
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Business Insight presented by Arlington Dermatology China, Olympics, and Common Sense Have you been watching Winter Olympics? Not much is being shown as most of the networks decided to boycott the events and only a few report from Beijing. One of the most glamorous sport events, promoting global peace, was again brought down to the political arguments and protests. Not that I disagree with it, but you need to remember that places for Olympics are chosen years in advance and practically, it is impossible to predict geopolitical imbalances. Thus, those of us who love watching sports, athletes who love competing, and organizers who spend millions to set up all supportive services, all of us suffer disappointments and sadness of missing such a great experience. So, what about China? You know already that I do not like taking political stands, so! will not discuss it. But there are some practical impacts of China's position in the world, especially economic that affect us all. First, for many years, not five or six but rather twenty or more, our economic system depended on China and its production. It was a decision of 5 times the normal price we used to pay. And many corporations, smaller and bigger, to seek cheap labor markets and outsource almost all manufacturing overseas. It had nothing to do with political party or president; actually, all corporations lobbied both parties to receive allowances and easy paths to outsourcing. American consumers did not think twice about the trend. Visiting department stores for shopping, we were happy to see tons of products at low prices and we kept buying and buying more. I do not believe you could find a pair of shoes or a toy at Target that was not made in China. Owners of American businesses were happy too: instead of paying $15.00 per hour and providing benefits, they paid $1 per hour and no benefits. Common sense, right? More profit. I personally experienced the trend too. Inever really thought about where our medical supplies come from. With some exceptions, like surgical tools or sutures, we order tons of gloves, table paper, and more. We order from suppliers and dealers who are providers and who buy directly from producers. It turned out many of their producers are in China. So, watching the pricing, we unknowingly planet. We all use electronic tools that made ordered from China. And out of the skies, the pandemic hit the world. China became a source of anger of many. Regular trade got disrupted, and pricing pandemic. And blaming each other or finger went crazy. Out of the skies, we learned that pointing will not help. We need to find a better we could produce Covid tests but we could not produce swabs. They were all produced in China. The price of regulár surgical gloves went we had to wait weeks to get them inhouse. Thankfully, the markets stabilized a little now and we do not worry about working without surgical gloves. But the pricing is much higher. Many of the items we order come from some domestic producers or outsourced producers but from different places than China, like Romania for instance. They are more expensive because the suppliers pay more to the producers. And producers are the same corporations but had to seek labor elsewhere and it became more expensive. We complain about milk being more expensive. Yes, it comes from American cows but where do you think the containers come from? They used to be from China. Cheap. Now they are from elsewhere and they cost more. So, milk costs more too. And, by the way, medical clinic operational cost of supplies is probably about 20% more too. People who produce our supplies want to make more money. Do you blame them? The whole China and inflation story is much more complex than political views. We are in a global economy. We all live on the same time and distance irrelevant. It is common sense to expect that we will experience some turbulence during and after the global way of moving forward. Michael Bukhalo, MD Arlington Dermatology 5301 Keystone Court Rolling Meadows, IL 60008 Tel. 847 392 5440 www.arlingtondermatology.net Business Insight presented by Arlington Dermatology China, Olympics, and Common Sense Have you been watching Winter Olympics? Not much is being shown as most of the networks decided to boycott the events and only a few report from Beijing. One of the most glamorous sport events, promoting global peace, was again brought down to the political arguments and protests. Not that I disagree with it, but you need to remember that places for Olympics are chosen years in advance and practically, it is impossible to predict geopolitical imbalances. Thus, those of us who love watching sports, athletes who love competing, and organizers who spend millions to set up all supportive services, all of us suffer disappointments and sadness of missing such a great experience. So, what about China? You know already that I do not like taking political stands, so! will not discuss it. But there are some practical impacts of China's position in the world, especially economic that affect us all. First, for many years, not five or six but rather twenty or more, our economic system depended on China and its production. It was a decision of 5 times the normal price we used to pay. And many corporations, smaller and bigger, to seek cheap labor markets and outsource almost all manufacturing overseas. It had nothing to do with political party or president; actually, all corporations lobbied both parties to receive allowances and easy paths to outsourcing. American consumers did not think twice about the trend. Visiting department stores for shopping, we were happy to see tons of products at low prices and we kept buying and buying more. I do not believe you could find a pair of shoes or a toy at Target that was not made in China. Owners of American businesses were happy too: instead of paying $15.00 per hour and providing benefits, they paid $1 per hour and no benefits. Common sense, right? More profit. I personally experienced the trend too. Inever really thought about where our medical supplies come from. With some exceptions, like surgical tools or sutures, we order tons of gloves, table paper, and more. We order from suppliers and dealers who are providers and who buy directly from producers. It turned out many of their producers are in China. So, watching the pricing, we unknowingly planet. We all use electronic tools that made ordered from China. And out of the skies, the pandemic hit the world. China became a source of anger of many. Regular trade got disrupted, and pricing pandemic. And blaming each other or finger went crazy. Out of the skies, we learned that pointing will not help. We need to find a better we could produce Covid tests but we could not produce swabs. They were all produced in China. The price of regulár surgical gloves went we had to wait weeks to get them inhouse. Thankfully, the markets stabilized a little now and we do not worry about working without surgical gloves. But the pricing is much higher. Many of the items we order come from some domestic producers or outsourced producers but from different places than China, like Romania for instance. They are more expensive because the suppliers pay more to the producers. And producers are the same corporations but had to seek labor elsewhere and it became more expensive. We complain about milk being more expensive. Yes, it comes from American cows but where do you think the containers come from? They used to be from China. Cheap. Now they are from elsewhere and they cost more. So, milk costs more too. And, by the way, medical clinic operational cost of supplies is probably about 20% more too. People who produce our supplies want to make more money. Do you blame them? The whole China and inflation story is much more complex than political views. We are in a global economy. We all live on the same time and distance irrelevant. It is common sense to expect that we will experience some turbulence during and after the global way of moving forward. Michael Bukhalo, MD Arlington Dermatology 5301 Keystone Court Rolling Meadows, IL 60008 Tel. 847 392 5440 www.arlingtondermatology.net