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Saturday, July 25, 2009

China's One Child Policy Tweaked?

Shanghai Tweaks One-Child Policy - NY Times.

This is a major change, but it makes sense since Shanghai has a lot of money, and as incomes go up usually the number of kids goes down.

The root issue is China's population is rapidly aging, and there is no social security set up. The percentage of people over 65 being 25% of the population by 2050. So will China get rich enough to pay for them? Other countries are having similar issues, such as Japan and Italy with an aging population.

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