China’s Economic Demography Transition Strategy: A Population-Weighted Approach to the Economy and Policy
Posted: 1 Jul 2020
Date Written: June 30, 2020
The first pandemic of the 21st century has brought Pyrrhic attention to one of the era’s greatest mega-trends – population ageing. Today rich countries are disproportionately affected but increasingly the world’s elderly are residents of developing countries. A policy approach that explicitly accounts for the interdependence of economic and demographic change – an economic demography transition approach - has never been more pressing. Thanks partly to the tragedy of history’s greatest Malthusian stagnation, that of mid-20th century China, Chinese policymakers implemented draconian population control measures alongside dramatic economic reforms from around 1980. This paper elaborates China’s consequential and ongoing economic demography transition strategy within the contemporary economic discourse. Amid epochal demographic, public health, and geo-economic change, this economic demography perspective is fundamentally timely, unique and useful for all countries.
Keywords: Population Ageing; Economic Demography; Demographic Transition; China
JEL Classification: 011; 043; 053
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