Economist Podcasts Old China hands: ageing in the Middle Kingdom
Dec 20, 2019
Simon Rabinovich, an Asia economics editor in Shanghai, shares insights on China's aging population crisis and the implications for its economy, highlighting the risk of aging before becoming affluent. Joanna Lillis discusses Uzbekistan's evolving political landscape ahead of pivotal elections, marking a shift toward reform despite lingering authoritarianism. Philip Coggan humorously critiques corporate communication through a satirical memo, revealing the absurdities of management speak and the realities of workplace dynamics.
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Impact of One-Child Policy
- Increased life expectancy in China is positive, but plummeting fertility rates pose a serious problem.
- The one-child policy exacerbated the natural decline in fertility associated with rising wealth.
Mitigating Aging Effects
- China can implement social policies to support families, increase labor force participation, and boost productivity.
- Raising retirement ages and adopting automation can mitigate aging effects, but demographic trends are hard to reverse.
China's Pension Crisis
- China's pension system is projected to run out of funds by 2035, prompting government intervention.
- The younger generation is encouraged to spend more, potentially impacting their ability to save for retirement and care for their parents.