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.

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.

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 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.

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.

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.

When you arrive in China nowadays, one of the first things you note is the emphasis placed on you, a non-Chinese person, being an outsider.