Old China hands: ageing in the Middle Kingdom
The Intelligence from The Economist
The Economist
4.5 • 3.7K Ratings
🗓️ 20 December 2019
⏱️ 23 minutes
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| 0:00.0 | Hello and welcome to the Intelligence on Economist Radio. 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. Criticism of the government is |
| 0:22.4 | muted, of the president unthinkable. There's not even an opposition party. To see why this |
| 0:28.4 | is still real progress, you have to consider how bad things used to be. And at about this |
| 0:35.9 | time of year, cubicle dwellers can expect to get the bosses end of your memo. The language |
| 0:41.2 | can be interesting. |
| 0:46.8 | But first, China has experienced enormous development since its market reforms of the late 1970s. |
| 1:06.6 | More than 850 million people have been lifted out of poverty. GDP growth has averaged nearly |
| 1:13.3 | 10% a year. But the world's second biggest economy is slowing down. Its challenges are |
| 1:20.0 | many. Chronyism, bad debts, the trade war. The biggest pressure of all though might be demographic. |
| 1:27.7 | China is getting old before it gets rich. Two years ago for the Chinese New Year's |
| 1:34.5 | Gala, they had a skit in which an old man visits his old wife and a nursing home. Simon Rebinevich |
| 1:40.7 | is our Asia economic senator and is based in Shanghai. He's been suffering from Alzheimer's |
| 1:45.6 | and has not recognized him for one year. And in a very sappy, somewhat heart-rending moment, |
| 1:54.4 | she finally recognizes him. The audience loves it. But for the government, really, it's a message |
| 2:00.8 | that they are trying to deliver, which is that the country is getting old quickly and people need |
| 2:06.6 | to be aware of that. Why is that? Why does the Chinese government need to draw attention to |
| 2:11.8 | maging? It's a dramatic shift for China. For a long time, it's been thought of as a young country, |
| 2:17.9 | a country of young workers. The demographic trends have been clear for some time. Nevertheless, |
| 2:24.2 | for a lot of people who are living here is almost catching them unawares. Next year is something of |
| 2:29.9 | gloomy milestone and that the median age in China will actually be older than in America. So China's |
... |
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