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A billionaire Chinese national, Liu Dian Bo, bought 34 Australian hospitals in 2015 for $900 million. They have 8000 beds. Now that the country needs them most, the billionaire is shutting them down. His company wants more money from the government.https://www.9news.com.au/national/coronavirus-healthe-care-private-hospital-company-stands-down-800-staff/69040a83-b020-4b47-a543-24e2348788d4 …
Looming shutdowns aren't limited to his co, "Healthe Care". Other hospitals are also facing financial difficulties. According to the article, "Ramsay Health Care has 25,000 beds at 72 private hospitals and is now sending staff on leave. Healthscope has 4400 beds at 43 hospitals."
A hospital system is clearly broken if it is closing down for lack of profit during a national health emergency like the #Covid_19 pandemic. Aussies should nationalize their hospitals now -- for a fair price.
A similar problem in Philadelphia. In emergencies the Federal government should nationalize broken hospitals and pay fair market rates.https://www.nytimes.com/2020/03/27/us/coronavirus-philadelphia-hahnemann-hospital.html …
Reason Mr. Liu's nationality is relevant: to be a billionaire and a Chinese national simultaneously means that one answers to the Chinese Communist Party. The CCP is responsible for this pandemic. Chinese national billionaires, therefore, share responsibility to the extent ...
... that they enable the CCP. Harvard law professor
@JamesKraska argues that China's liability for #COVID19 could be in the trillions of dollars....https://warontherocks.com/2020/03/china-is-legally-responsible-for-covid-19-damage-and-claims-could-be-in-the-trillions/ …
China's liability means that an Australian court could attach China's assets in Australia to help pay damages for #COVID19. This should arguably include the assets of wealthy Chinese nationals like Mr. Liu.
If Mr. Liu is proven to have subordinated his personal interests to the interests of the Party, or taken orders from the Party, his assets could arguably be considered an extension of the Chinese state and therefore liable to seizure by Australia.
Mr. Liu leads a group called Luye, which has another executive named Choy Sze Chung Jojo. In 2015 Choy was a member of the CPPCC, a Chinese government organization that asserts China's political influence abroad. https://www1.hkexnews.hk/listedco/listconews/sehk/2016/0429/ltn201604291589.pdf …
The year Luye group bought Australia's Healthe Care, the latter operated 17 hospitals with >1,800 beds. https://www.wsj.com/articles/chinas-luye-medical-to-buy-australian-private-hospital-operator-1449367162 … ht @stillgray
Correction to my original tweet: Luye paid Australian $938 million for >1800 beds according to the WSJ. That comes to ~$521k per bed, plus the real estate, employees, equipment, etc. Additional hospitals likely added later. Deal sealed in December 2015: https://afr.com/street-talk/chinas-luye-medical-group-buys-archer-capitals-healthe-care-20151204-glg42a ….
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