One niggle: "but the elderly population is expanding, which means in the next decade, China's economic growth will also further decline”.
Based on current demographics, the labor force problems will not impact China until 2050. Until then, according to the world's leading development practitioner/theorist, Justin Lin Yifu, China can grow its GDP 8% compounded until then, if it so desires. No biggie, in other words.
Very helpful. Many thanks!
One niggle: "but the elderly population is expanding, which means in the next decade, China's economic growth will also further decline”.
Based on current demographics, the labor force problems will not impact China until 2050. Until then, according to the world's leading development practitioner/theorist, Justin Lin Yifu, China can grow its GDP 8% compounded until then, if it so desires. No biggie, in other words.
Thank you for the comments. I read Lin's speech you mentioned. His confidence in China's high speed growth is inspiring. Hope he is right.