Yes, but I don’t know of much solutions that could “solve” the issue. Because china has such a massive population, encouraging birthrate growth probably isn’t a great idea. China is already spending a lot of money on food imports to feed it’s population because domestic produce simply isn’t enough (it’s also cheaper to import food), this also applies to other goods as well. The massive boom in population in the early 20th century put a large strain on the economy, and was the primary reason for the one child policy. I think planning for having to account for a less productive, smaller labour force in the future through a greater focus on more productive machinery and automation, and to make robust safety nets and social services for the elderly so they aren’t so reliant on their children is all you can really do. China, like South Korea, is still going to be able to soak in foreign investment, and it’s economy is still going to grow. And unlike SK, it’s demographic projections aren’t as drastic. I think it’s inevitable there will be slow down in china’s growth, but making sure that slowdown isn’t drastic is the goal.
elderly care is itself an industry, isn’t it? perhaps needing younger labourers to care for them isn’t as drastic an issue as it may seem. it still presents an opportunity cost, but as you say, automation is another tactic.
Yes, but I don’t know of much solutions that could “solve” the issue. Because china has such a massive population, encouraging birthrate growth probably isn’t a great idea. China is already spending a lot of money on food imports to feed it’s population because domestic produce simply isn’t enough (it’s also cheaper to import food), this also applies to other goods as well. The massive boom in population in the early 20th century put a large strain on the economy, and was the primary reason for the one child policy. I think planning for having to account for a less productive, smaller labour force in the future through a greater focus on more productive machinery and automation, and to make robust safety nets and social services for the elderly so they aren’t so reliant on their children is all you can really do. China, like South Korea, is still going to be able to soak in foreign investment, and it’s economy is still going to grow. And unlike SK, it’s demographic projections aren’t as drastic. I think it’s inevitable there will be slow down in china’s growth, but making sure that slowdown isn’t drastic is the goal.
elderly care is itself an industry, isn’t it? perhaps needing younger labourers to care for them isn’t as drastic an issue as it may seem. it still presents an opportunity cost, but as you say, automation is another tactic.