China's Pension Time Bomb
Let's take a stroll over to China and see what's up...
According to a United Nations (whatever) study released last year, the number of people aged 60 or over is expected to rise to 31 percent of the population in 2050, or more than 430 million people, from just 10.9 percent last year. That would be well above the projected world average of 21.7 percent in 2050.
The report said the appearance of an aging population in a developing country where per capita GDP has only just exceeded $1,000 was "unprecedented". "The country is unique in the world in that is it aging first without becoming affluent," it said.
Since China began opening up to the outside world almost 30 years ago, millions of people have flooded to cities from the countryside looking for work, and have helped turn the country into the world's factory, making everything from shoes to cars. Analysts have warned that China faces a "pension time bomb" from its aging population.
China Daily has the rest.
this link actually works - http://www.chinadaily.com.cn/bizchina/2006-08/21/content_669739.htm
4 Comments:
WAR with someone will be needed to thin their population?
Armageddon, anyone?
China is a wildcard, their close alliance with Iran is very unsettling.
I've been collecting a few items these countries, I will have a post on this in the coming days.
o.t., but very interesting this evening on brit hume's fox program - i believe he said forty percent more conservatives are having children than liberals! we will outnumber them greatly in the future - yeeeehaw!
perhaps they'll rethink their abortion strategies?
greta point on the "time bomb" that will occur. This is a global crisis also. Europe, US, Asia will have to deal with this issue. Who will pay for the elderly when the time comes?
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