Report
China is unprepared for population ageing
Population ageing is now very rapid in China. The problem in our view is that China is unprepared for it: China’s pension and public health systems are very small: this leads households to save a lot with a view to their retirement, which weakens consumption; The shrinking of the labour force is not being offset by faster productivity gains, which can be attributed to weakened investment, leading to a decline in potential growth, reducing China’s attractiveness for foreign investment and exacerbating the debt problem; Population ageing is therefore leading to weak domestic demand and making China’s growth increasingly dependent on exports, which poses challenges in an environment of tensions between China and many countries.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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