Baby boom generation in China will start to hit retirement age in the very next few years, let's say by the end of this decade.

China has its own Baby Boom generation. And China's baby boom generation, because of the size of China itself, is the world's largest baby boom generation.

Baby boom generation in China will start to hit retirement age in the very next few years, let's say by the end of this decade.

China will have the biggest aging crisis that the world has ever seen over the next generation, and this happens at a time when Chinese ambitions, geopolitically speaking, are expanding.

The reason the United States is not aging rapidly in terms of its demographics is because we accept people as newcomers to this society in numbers that far surpass any of our major peers or rivals.

Soon numbers of Chinese people will exit the work force, and the Chinese work force, which has already begun to shrink, will shrink in a vastly accelerated way. And so China's going to face huge retirement costs and Social Security costs, health care costs, related to this immense aging of the population.

The one-child policy was based on some faulty science and had, as an ambition, reining in Chinese population growth, so as to enhance the per capita wealth of the country.