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. 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. 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. FrenchSince the first Gulf War in 1991, the Chinese have been increasing their military budget roughly by 11 percent a year on average. There's no way that China will be able to sustain that sort of military expenditure. And then the most important reason is because of its population changes.
Howard W. FrenchBaby 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.
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