"There’s an old saying: China will get old before it gets rich. Shanghai is turning that adage on its head: The city is both rich and old."
One-fourth of Shanghai's residents were at least 60 years old last year. What this means is that there is more wealth in Shanghai per individual than most other Chinese cities and that in parks you will see more elderly people walking around in the mornings.
Although a bit random, I thought this was interesting because now I will probably notice more the age demographics of the cities we visit and pay more attention to it.
Jeff Carroll
http://blogs.wsj.com/chinarealtime/2012/03/30/shanghai-gets-rich-as-it-gets-old/
One-fourth of Shanghai's residents were at least 60 years old last year. What this means is that there is more wealth in Shanghai per individual than most other Chinese cities and that in parks you will see more elderly people walking around in the mornings.
Although a bit random, I thought this was interesting because now I will probably notice more the age demographics of the cities we visit and pay more attention to it.
Jeff Carroll
http://blogs.wsj.com/chinarealtime/2012/03/30/shanghai-gets-rich-as-it-gets-old/
I think this is very interesting, and very Chinese. The older, more traditional people in China have always been big savers, and with the increase in GDP per capita, it makes sense that they are more and more wealthy. The real question is whether they will ever spend the money they have.
ReplyDeleteInteresting--I think Japan is in a similar boat. Does anyone know if China has a similar declining birth rate like Japan? Japan's aging population is skyrocketing, and I wonder if the same holds true in China.
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