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.
Howard W. FrenchWhen 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.
Howard W. FrenchWe're seeing China push very hard in its immediate neighborhood, particularly in the maritime zone surrounding China, to kind of create a security zone for itself, trying to lock in the territorial and maritime gains that it can now, before a period of much more difficult choices arises some time in the 2020s.
Howard W. FrenchSoon 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.
Howard W. FrenchChina 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.
Howard W. FrenchChina, the world's most populous country, 1.3, 1.4 billion people, will in the next decade or so have to begin looking for people outside of China.What does this mean? China will have to become a much more welcoming society. It means that China will have to attract immigrants from other countries in order to slow the aging of the population.
Howard W. French