Don’t look now, but China has its own demographic dilemma
Linda Nazareth / October 24, 2013 / www.theglobeandmail.com
We’ve all heard about the looming exit of baby boomers from the workforce in developed nations and the impact this will have on the economy. What we probably haven’t heard discussed quite as widely is that China and other Asian countries are facing some similar challenges. The median age in China will be 36 by 2015, up from under 30 in 2000, according to estimates by the United Nations. While that’s still lower than the estimated median ages of 44 in Western Europe and 38 in North America, a new report from Citigroup’s economics department says that this phenomenon will cut 3.25 percentage points from China’s annual real GDP growth over the next twenty years. Linda Nazareth at The Globe and Mail takes a closer look.