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Economist Podcasts

Old China hands: ageing in the Middle Kingdom

Economist Podcasts

The Economist

News, News & Politics

4.35K Ratings

🗓️ 20 December 2019

⏱️ 23 minutes

🧾️ Download transcript

Summary

Next year, China’s median age will surpass America’s, but with just a quarter the median income; the government is nervous that China will get old before it gets rich. This weekend’s elections in Uzbekistan are another sign of astonishing change in the country—but plenty of political reform is still needed. And a sidelong glance at the tradition of the boss’s end-of-year memo. For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/radiooffer

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Transcript

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0:00.0

Hello and welcome to the Intelligence on Economist Radio.

0:06.7

I'm your host, Jason Palmer.

0:09.4

Every weekday, we provide a fresh perspective on the events shaping your world.

0:17.4

This weekend, Uzbekistan holds parliamentary elections.

0:20.6

Criticism of the government is muted,

0:22.6

of the president unthinkable. There's not even an opposition party. To see why this is

0:28.6

still real progress, you have to consider how bad things used to be. And at about this time of year,

0:36.6

cubicle dwellers can expect to get the boss's end-of-year memo.

0:40.7

The language can be interesting.

0:57.0

But first... China has experienced enormous development since its market reforms of the late 1970s.

1:07.0

More than 850 million people have been lifted out of poverty.

1:11.7

GDP growth has averaged nearly 10% a year.

1:15.1

But the world's second biggest economy is slowing down.

1:19.2

Its challenges are many.

1:21.3

Cronism, bad debts, the trade war.

1:24.5

The biggest pressure of all, though, might be demographic.

1:28.1

China is getting old before it gets rich.

1:32.5

Two years ago for the Chinese New Year's gala, they had a skit in which an old man visits

1:37.8

his old wife in a nursing home.

1:39.9

Simon Rabinovich is our Asia economics editor and is based in Shanghai. She's been suffering from Alzheimer's and has not recognized him for one year.

1:49.0

And in a very sappy, somewhat heart-rending moment.

1:54.0

She finally recognizes him.

...

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