Today 100 million Chinese are over the age of 65. By 2030 that number will have tripled.
Timothy Beardson, founder and director of Crosby, a Hong Kong-based independent investment bank, warns a lack of urgency in tackling institutional reforms by the new Chinese leadership could send the country into a downward spiral.
“No country with a steep, consistently declining population has maintained a sharply rising rate of economic growth,” he said at a luncheon yesterday in Hong Kong.
The country faces a number of demographic challenges that will complicate efforts to address other problems, such...