China's aging population are calling for social reforms and innovations

When I read the report of "long-term global demographic trend: reshaping geopolitical landscape",one of the key findings caught my eye,"For China, a large and growing urban population coupled with a looming aging population could mean slower economic growth, increased political instability, and perhaps significant cultural changes."

Aging population is becoming one of the most important problems in China, posing serious challenges to various areas such as economy,health care, social insurance, and even global trade.

Undoubtedly, China's economy is emerging rapidly in recent years, it's becoming the center of the world's attention not only because of its economy share and growth, but also because of its huge population.In fact, China has enjoyed inexpensive labor force for many decades, which enables it to be a competitive outsource supplier in global trade.However, with the looming consequences of one-child policy,the workforce in China is shrinking, and the falling fertility rate and increasing life expectancy have resulted in a rapidly aging population.Just as one of the reporters quoted:"China is getting old before getting rich."

From an internal perspective, aging population in China will give rise to problems in pension provision, health care system,social insurance reform and governmental budget management.Less young adults are shouldering with more economic burdens and responsibilities,and to make the matter worse, large amounts of labor force are flooding into big cities, leaving parents and grandparents alone at home without being taken care of.And the skewed sex ratio is also becoming more and more obvious in society,adding to complexity of the situation of population in China.

From an external perspective,these influences brought by aging population in China will undoubtedly effect international trade and economic development.No one can make indisputable predictions about the future when one of the world's most influential country is becoming old and slow.

However, the road leading to success is always full of setbacks and obstacles. In this moment, brave social reforms should be made and creative innovations based on human need should be carried out.

Personally, I think that health care and social insurance would be very potential areas to develop.Advanced technologies could be creatively applied to old people's special needs,medical and pharmaceutical companies can find a large market in China, government and NPOs and private sectors can join hands together.Of course, things are easier said than done, how to tackle the aging problem in China in a systematical way that can both ensure economic development and social welfare? This really deserves much thought.

Sources:

http://carnegieeurope.eu/strategiceurope/?fa=52309

http://www.wikinvest.com/concept/China's_Aging_Population

http://www.theguardian.com/global-development/2012/oct/01/china-elderly-population-pensions-rethink

http://www.ibtimes.co.uk/articles/496864/20130805/china-one-child-policy-end-population-ageing.htm

http://www.scmp.com/news/china/article/1250039/unprecedented-study-seeks-assess-challenges-chinas-ageing-population

http://www.helpage.org/blogs/meredith-wyse-19803/shocking-statistics-on-chinas-ageing-population-572/

http://online.wsj.com/public/resources/documents/charls0530.pdf

http://www.bbc.co.uk/news/world-asia-19630110