From the article: “…China will have a bulge of pensioners before it has developed the means of looking after them. Unlike the rest of the developed world, China will grow old before it gets rich. Currently, 8.2% of China’s total population is over 65. The equivalent figure in America is 13%. By 2050, China’s share will be 26%, higher than in America.”
The key phrase, to me, is “before it has developed the means of looking after them.” At least in the west, we are having a vigorous debate about how to deal with steadily increasing longevity – in fact, that vigor is precisely what has triggered the heated ‘war of the generations’ rhetoric that I dissect in my new book, Beyond Age Rage. Along with the policy side of that debate, there is the undeniable fact that the boomers are fashioning a complete re-definition of aging, which affects no only the older but the younger generations. There doesn’t appear to be much sign of a similar process in China.