Nation Faces Challenges Of Graying Population – Wu Jiao
From China Daily:
The country faces unprecedented challenges in economic and social spheres as a result of a fast expanding aging population, top officials warned Monday.
With two working people for every retiree between 2030 and 2050, the country is expected to see the end of a decades-long advantage it enjoyed with a low-cost labor market.
Currently, the ratio is 6:1, according to figures from the China National Committee on Aging (CNCA).
“We might encounter the heaviest burden especially after 2030, when the demographic dividend is set to end,” said Yan Qingchun, deputy director of the office of the CNCA. [Full Text]