Chinese Economics Thread

hashtagpls

hashtagpls

Senior Member
Registered Member
hkbc said:
Well the so called demographic problem is too many old people not working, fewer people in the workforce to generate the wealth for their pensions, not necessarily an overall reduction in headcount, until they die the old people are still consumers! Automation will help the reduced workforce supply the segment of society that no longer works through increased productivity, So you are conflating 2 unrelated things and coming to a spurious conclusion.
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I don't think we'll really see old Chinese ppl (meaning the boomer generation) stop working; from some boomer Chinese i know who have the option to retire, they would still prefer to continue working to make money.

I don't know if it's an indictment against the conditions where they were brought up in- poverty and famine and civil strife- or cultural industriousness, but i don't see elderly chinese people stop caring for their families or being a net drain on the Chinese economy. Even if they're not working they still provide invaluable experience and knowledge to the younger generation and help with taking care of the grandchildren whilst the parents are off working.

The only problem i can see is if these elderly Chinese retirees resort to gambling if they're not working- a colleague who lived in san francisco said these old chinese ppl would gamble their retirement savings away and be left with nothing. Thankfully, the CCP has laws and social safeguards against over-gambling.
 
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Nutrient

Junior Member
Registered Member
hkbc said:
Well the so called demographic problem is too many old people not working, fewer people in the workforce to generate the wealth for their pensions, not necessarily an overall reduction in headcount, until they die the old people are still consumers! Automation will help the reduced workforce supply the segment of society that no longer works through increased productivity, So you are conflating 2 unrelated things and coming to a spurious conclusion.
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I think the plan is to have robots generate enough wealth to offset China's aging workforce.
 
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Deleted member 15887

Guest
Nutrient said:
Why would Chinese stop consuming if their wages continue to rise? The robots will produce enough to support a reasonably comfortable lifestyle for the average citizen, who might only need to work 4 hours a day. Later, the robotic productivity will be so great that the people will have a high standard of living -- by working 4 hours a day. As long as the country's resources are able to support the growth -- or technology improves to get more from resources -- I see no reason that China should not become a rich country. This is decades in the future, of course.
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Well, they wouldn't if wages keep rising, but the problem moreso lies in, if wages don't rise fast enough to overcompensate for a net loss in consumers, that would be problematic.
 
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antiterror13

Brigadier
Nutrient said:
Why would Chinese stop consuming if their wages continue to rise? The robots will produce enough to support a reasonably comfortable lifestyle for the average citizen, who might only need to work 4 hours a day. Later, the robotic productivity will be so great that the people will have a high standard of living -- by working 4 hours a day. As long as the country's resources are able to support the growth -- or technology improves to get more from resources -- I see no reason that China should not become a rich country. This is decades in the future, of course.
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And in the future, human don't need to work at all ;) but I guess when it happens, there are still thousands of reasons to complain or be unhappy :confused::p
 
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voyager1

Captain
Registered Member
Ideally in the future, very high automation and with some subsidies added the elderly population could be handled quite well with not as much expense as some people predict.

don't forget that China can use its own state-owned enterprises to keep prices super low (near the cost level) so that the country wont bleed the treasury to provide for the basic needs for the elderly
 
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Petrolicious88

Senior Member
Registered Member
caudaceus said:
Seems 996/long work hours really burns so many people. That should be the next regulation target by CCP.
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That has always been the problem for young professionals in China. Too many people. Too much competition.
Or you can immigrate to the US, work in NY or Cali, make $150 grand a year. Able to invest in a house in just few years. Good luck trying to do that in Beijing or Shanghai.
 
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