How China’s Aging Population may affect economic prosperity and development
In China, as a consequence of the decline in births since the 1970s, the majority of people are today around the forty-year-old age range. In developing countries, the age bulge is generally in the under-25 age group.
In a video, The Economist looks at what are the consequences of early ageing of the population in terms of its level of urbanization (which has just passed the 50% mark) and development. It is predicted that in 15 years, one third of the nation will be retired, and that 1.5 workers will support 1 retiree, a major additional burden with a risk of economic slowdown leading to a consequent reduction in China’s pace of development.