Aging Population to Slow Economy
2 min readAging Population to Slow Economy
China’s one-child policy has led to an aging population and labor shortages that could undermine a key basis for the country’s economic growth-its seemingly endless supply of cheap workers，a newspaper said.
Family planning policies started since the late 1970s have prevented the birth of hundreds of millons of people，but incomes have not risen fast enough to support pensioners，the China Youth Daily cited a government report as saying. “in the not too distant future there will be a day when there is an end to the unlimited labor supply，”the state newspaper said.“It is this thathad been one of the most basic advantages of China’s recent economic development.”
The report，produced by the Chinese Academy of Social Sciences，a top government think tank，said industry had yet to face up to this fact despite factories in economic heartlands in Guangdong and near Shanghai l-ready finding it hard to get workers.“Although China wants to change theproportion of manufacturing industry（in the economy），it will take a long time，and today there are no signs or motion toward this adjustment happening，”it said.“The labor force is doubtless the most basic support of economic development.”
Aging Population Expanding Fast
China faces social problems caused by a sharp increase in its aging population，the Chinese Academy of Sciences（CAS）warned in a recent report on the issue.The number of people aged over 60 in China exceeded 90 million at the end of 2001，accounting for about one half of Asia’s over-60s and one fifth of the world’s total，according to the report trom a dozen CAS members.The rise in the number of octogenarians in China was muchhigher than of 60-year-olds，which would mean a heavy burden on society，the report said.Experts urged relevant departments to take measures to improve social welfare and medical care systems for senior citizens.They suggested that universities should intensify research into the problems of old age and medical institutions should pay more attention to geriatric health.
