The Intelligence from The Economist Old China hands: ageing in the Middle Kingdom
Dec 20, 2019
Simon Rabinovich, the Asia economics editor for The Economist based in Shanghai, discusses China's looming demographic challenges as the median age approaches that of America, but with vastly lower income levels. Joanna Lillis, a Central Asia reporter, shares insights into Uzbekistan's evolving political landscape ahead of upcoming elections, revealing both progress and the lingering need for genuine reform. The podcast also humorously critiques corporate jargon through a fictional end-of-year memo, shedding light on the absurdities of management speak.
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China's Aging Population
- China's median age will soon surpass America's, impacting its economic future.
- This demographic shift is a significant concern for the Chinese government.
Economic Strain of Aging
- China's aging population strains its economy due to lower median income compared to the US.
- Increased healthcare and pension costs, along with a shrinking workforce, further impact growth.
Impact of One-Child Policy
- While increased life expectancy is positive, plummeting fertility rates pose a significant challenge.
- The one-child policy exacerbated the issue, hindering population growth.