Is China's demography China's destiny? A chat with former World Bank economist Bert Hofman
Sinica Podcast
00:00
Is There a Need to Improve the Pension System in China?
Real estate accounts for 40% of bank lending, 50% of overall fiscal resources for local governments and 60% of all household assets. So changing that also means that, and we're going to talk about government services, probably all the way later,. but those needs particularly fall to local governments to finance. You've also suggested that there is a need to massively improve what the pension system now pays out. I mean, what is China considering doing in order to address what are bound to be huge shortfalls in the pension system?
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