The clock is ticking on China, and my question is, what do we intend to do about it?
The demographic numbers are appalling for the Chinese. That nation of some 1.2 billion people has roughly 500-600 million people of an age that suggests that their death rate is going to skyrocket. It’s like that in Canada, too, with our own population top-heavy with people age 60+ making up the lion’s share of the demographic pie. But we’re not going to lose half a billion people as a result of it.
Some would argue that China’s problem is China’s problem, and while certainly tempting, there’s a bit more to it than that. Right now, China produces about half of the world’s finished products, at least from a total value perspective. Halving your national population cut in half through natural aging will have an impact on that, for sure. Yes, China will still be a colossus, but the Chinese economy is scaled to the much larger population of over a billion. When you pull that 600 million people out of the equation, that means that you theoretically lose over half of your domestic market for your own finished manufactured goods, not to mention the impact that may have on your productive workforce. And the impact that all of this will have on the global economy.
An impact that will be felt right here, an ocean away, in Canada.
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