As things stand, a declining population is set to slow the economy’s growth, prompting a need for changes to the retirement age and internal migration rules.
How big a role will China’s demographics play in its economic prospects? Inescapably, a big one. Indeed, it must be one of the most important factors in determining China’s economic prospects.
Even if there remains good potential for output per worker to rise, because China is a relatively poor country, a declining population and workforce will slow the growth of the economy. So, what might this mean for its future?
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Financial Times
Martin Wolf is chief economics commentator at the Financial Times, London. He was awarded the Commander of the British Empire in 2000 “for services to financial journalism”.
