China’s social insurance program is not aging well.
The trade war with U.S. and the coronavirus pandemic forced the government to repeatedly offer generous stimulus to ease Chinese companies’ burden of social welfare contributions.
But this led to a smaller pension pot. Social security expenditures for fiscal 2020 are set to exceed revenues for the first time since 1998, creating red ink.
This comes at a particularly unfortunate time for the country’s social safety net as a large chunk of China’s own baby boom generation reaches retirement age in 2022. READ MORE (CACHED ARTICLE)
Similar Posts:
- Macquarie’s Le Cornu Likes Korean Cosmetics, Chinese Insurance Stocks & Macau Casinos (Bloomberg)
- Why China’s Stock Market Tumble is Giving India’s a Lift (Nikkei Asia)
- Are China’s Hidden Liabilities Behind Moody’s Ratings Downgrade? (Fiscal Times)
- Asia’s Worst Aging Fears Begin to Come True (Nikkei Asian Review)
- Emerging & Global Markets Catch Up With Reality (Krane Shares)
- China is a Minefield for International Creditors (Washington Examiner)
- Credit Trends: Demystifying China’s Domestic Debt Market (S&P Global Ratings)
- Trade War Steers Chinese Investment Toward Southeast Asia (Nikkei Asian Review)
- Markets Punish Multinationals Dependent on China (Nikkei Asian Review)
- Billion-dollar Tech Startups Hold Promise for China’s Economy (Nikkei Asian Review)
- Developments in the Reform of China’s State-Owned Enterprises (Mobius Blog)
- The 40 Biggest Chinese Stocks Being Added to the MSCI Index (Fortune)
- Manufacturing Moving to India From China, But Trade Deficit a Concern, Says Mark Mobius (ThePrint)
- Banning Huawei: An Act of Economic War (Hermes)
- Templeton’s Chow: “No Reason the Goat and the Bull Cannot be Friends” (Mobius Blog)