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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

Cutting America’s Dependence on China for Medicines

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.13.9K Ratings

🗓️ 29 June 2020

⏱️ 30 minutes

🧾️ Download transcript

Summary

When the coronavirus pandemic struck in the United States, the FDA was forced to closely monitor the medical product supply chain, including disruptions to supply or shortages of critical medical products in the U.S. because many of the components for those in-demand products are manufactured in China.
In a statement in February 2020, the FDA said, “Since January 24, the FDA has been in touch with more than 180 manufacturers of human drugs, not only to remind them of applicable legal requirements for notifying the FDA of any anticipated supply disruptions but also asking them to evaluate their entire supply chain, including active pharmaceutical ingredients (the main ingredient in the drug and part that produces the intended effects, e.g., acetaminophen) and other components manufactured in China.
Also, as part of our efforts, the FDA has identified about 20 other drugs, which solely source their active pharmaceutical ingredients or finished drug products from China. We have been in contact with those firms to assess whether they face any drug shortage risks due to the outbreak. null of these firms have reported any shortage to date. Also, these drugs are considered non-critical drugs.”
In the book, “China Rx: Exposing the Risks of America’s Dependence on China for Medicine,” co-author, Rosemary Gibson, explains the dangers of relying on one country as a source of vital medicines.
Hosts Robert and Kim Kiyosaki are joined by Rosemary Gibson to discuss how the United States can get out from under the dependence of China for drugs.

Visit Rosemary Gibson’s website: http://www.rosemarygibson.org
Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The search is heating up for the people who make football better.

0:03.6

People like Sarah Catriona.

0:05.7

Strength and conditioning is not just for the praise, it's for everyone.

0:08.9

Jack Northover.

0:10.4

You cook me an hour for your fine rock show and all the way through, just like the stick of rock.

0:14.3

Chippy C-Hack.

0:15.4

That's a matter where you're former, you are.

0:17.0

We've built something which is beautiful.

0:18.6

Entries are rolling in. Who's your real football number one?

0:21.8

Nominate them today as they could with a money car buy experience with Skybett Pride Drop.

0:27.0

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0:31.0

Don't be like Charlie.

0:33.0

Charlie is that do it yourself or who does himself in.

0:36.5

Do it yourself is good for tile and grout.

0:39.1

It is not good for asset protection.

0:41.7

Charlie thought he'd save a few dollars forming his LLC online.

0:45.6

With no guidance, he did it wrong.

0:47.8

When he sold the property, he lost thousands and thousands of dollars.

0:51.6

He did himself in by trying to do it himself.

0:54.8

Don't burn yourself.

0:56.3

Use corporate direct to set up and maintain your LLC's and corporations.

1:01.3

Corporate direct is owned and operated by attorney and rich dad advisor Garrett Sutton.

...

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