Firstly, the growth of the elderly population has increased the dependency rate and incidence of many chronic diseases. Due to the lower fertility rate and extension of the human life span, the population in China is aging faster than almost any other country. The higher the dependency ratio, the greater the pressure on the working population to bear the economic capacity to support. Actually, even if the Chinese government provides part of the financial support for the elderly through social welfare, such as pensions and public welfare homes, there are still many elderly people in China who can not be raised.
In addition, the aging population in China increases the incidence and types of chronic diseases. Chronic diseases extend to four basic types, including cardiovascular diseases, cancer, respiratory diseases, and diabetes, which damages some vital organs, such as the brain, heart, and kidney. Due to population growth and aging, the absolute number of CHD incidents and deaths in China will increase dramatically from to Therefore, due to the aging of the population, the increasing dependency rate and the increasing types and incidence of chronic diseases have brought certain social pressure.
A large number of the elderly population has increased the pressure of the government to allocate the pensions and popularize social welfare.
- Voices from Beyond (Ghost Finders, Book 5).
- Magnetic Hydrogen Atoms and Non-Magnetic Molecules.
- Between Two Empires: Race, History, and Transnationalism in Japanese America.
- Optical Fibers Research Advances?
- Red China's Green Revolution.
According to the calculation, since economic expansion is the sum of labor force growth and labor productivity growth, achieving income growth of the same age as the population will require a substantial increase in productivity growth rate. Therefore, China should raise the legal age of retirement to cope with the problem of a reduced labour force. On the other hand, a large proportion of grandparents in China provide free services for raising grandchildren for their children, which is the main reason why women decide to stay in the labor market.
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An increase in the number of retirees and a decrease in the number of taxpayers will affect the government's allocation of funds. In order to alter China's aging population, the Chinese government has tried to relax the birth restriction policy to increase the birth rate. In , the two-child policy had been published to replace the one-child policy.
In , if both parents were only children, all provinces allowed couples to have two children. In , most provinces further relaxed their policy that allows families to have two children if one of the parents is an only child. From Wikipedia, the free encyclopedia. See also: Demographics of China. See also: One-child policy. Retrieved International Journal of Epidemiology.
BMC Public Health. By Mark W.
By Scott Wilson. New York: Oxford University Press, Perspectives on Politics. The Lancet.
- Economics in China -- Current Changes and Analyses -- Bibliography.
- Remade in China.
- 2 editions of this work.
- Decrypted Secrets: Methods and Maxims of Cryptology.
Encyclopedia Britannica. The Guardian. South China Morning Post.
Tania Branigan". The CWA is the first major G20 initiative focused on development issues in Africa, an area that has traditionally fallen within the remit of the G7. The CWA platform will increase the legitimacy and facilitate the implementation of these strategies. The emerging market economies that are members of the G20 represent a significant and growing share of development finance — just as companies based in these countries represent a large and rising share of foreign investments into Africa.
However, the G20 will provide little more than a high-level political platform to create and sustain the momentum for reform. The AfDB, IMF, and World Bank Group will be the main points of contact during the preparation and implementation of the Compacts, which will be developed on the basis of a catalog of possible measures and instruments outlined in an ad hoc joint report prepared by the three IFIs. The IFIs will provide financial and technical assistance to the participating governments by way of existing initiatives and instruments as provided by their respective mandates and in the limit of their respective financing envelopes for the countries involved.
The contributions from multilateral and bilateral partners will be coordinated in each participating country by ad hoc Country Teams, which will comprise representatives of government, IFIs, interested G20 countries, and other partners. Although the CWA is a high-level platform that rests on existing institutions and financing channels, it will add to a web of more than recent multilateral and bilateral initiatives that also aim to facilitate private investments in Africa.
Like other programs, the CWA will represent a minor cost to participating countries by diverting administration and donor resources. The initiative will also duplicate similar structures and processes. For instance, the Country Team will replicate existing donor cooperation groups, most of which are organized by themes or sectors.
The CWA is however expected to have a small, but overall positive impact, mostly by signaling to private investors that the commitment of participating countries to reform is genuine and durable. The reform priorities are set by participating governments, who commit to specific objectives, and select a package of actions to attain them.
The actionability and publicity of the Compacts will guarantee the commitment of governments to the agreed roadmap. In addition, the unity of the donor community and the visibility of external support will increase the political feasibility of implementing the Compacts. Most actions under the CWA require implementation over the medium to long term. In the end, the success of the initiative will therefore depend on the sustained commitment of successive governments in participating countries and in G20 members. This paradigm shift provides a new impetus for the redeployment of scarce public funds to leverage private investments, including in the poorest, riskiest countries.
If realized, the WBG repositioning would mark a significant step in the current transition in development finance. It has the potential to transform the balance sheets of Multilateral Development Banks MDBs and to unlock infrastructure markets in developing countries. These efforts will result in an evolution of WBG operations, rather than in the transformation of its model. They will facilitate private investments in frontier economies but nowhere near a level sufficient to bridge their infrastructure gaps.
Aging of China
The public sector faces tight fiscal constraints that make it unable to bridge this financing gap. The long-term, high-yield profile of infrastructure investments in EMDEs seems well-suited to their mandate. However, an unfavourable business environment and a dearth of bankable projects have prevented these investors from allocating significant resources to this sector. This situation has long been recognized by MDBs.
Since and under the leadership of the G20 they have increased their efforts to address these bottlenecks. Establishing project preparation facilities has been part of this agenda. During the 3-year pilot phase, the GIF aims to support 15 to 20 projects to be financed by institutional investors.
The MDBs have also scaled up pooled investment vehicles that channel third-party capital. In parallel, the WBG has developed standardized and replicable models for private participation that aim to reduce risks and transaction costs in order to achieve scale. For instance, in the IFC launched Scaling Solar, a one-stop-shop program for the development of private, grid-connected solar photovoltaic plants.
Scaling Solar is based on standardized procurement, contracting, and financing documents in an effort to go beyond the traditional project-by-project approach.
If the ambition and the narrative are new, the idea of facilitating capital is not. By doing so, it heralds potentially far-reaching consequences for the operations of the WBG. This paradigm shift has already been translated into a new priority: de-risking markets and projects, with an emphasis on frontier economies, including fragile and conflict-affected countries.
When de-risking projects, the WBG will maintain a focus on additionality.
Its intervention will aim to enable additional commercial capital — not to replace or compete with existing private solutions. This set of guidelines will be first applied to infrastructure financing, and later extended to finance, education, health, and agribusiness. When preparing a project, WBG staffers will have to consider private solutions first.
If they are not feasible, they will have recourse to public options. The WBG repositioning will be enabled by changes at several levels. International financial institutions often compete to finance projects, especially those that could be financed commercially and that present an equivocal case in term of additionality.
The Old World and the Middle Kingdom
The WBG is expanding its suite of tools to de-risk markets and projects. The PSW is composed of four facilities that provide and support project-based guarantees, currency risk-sharing, and blended finance, with a focus on infrastructures in frontier economies. This new window will allow IDA to support the operations of the IFC and the guarantee arm of the WBG by limiting their exposure and carrying part of the risks on its balance sheet.
A pipeline of projects is currently under development. The WBG is also working on other tools, such as indices and bonds, to support the development of infrastructure as an asset class. The WBG repositioning, and the associated focus on frontier economies, will require stronger financial capacity. Extensive efficiency and leveraging measures have recently been implemented across the WBG. However, there is very limited appetite among member countries for a general or selective capital increase, especially within the United States government.
But the newest multilateral development bank has already declared independence from its Chinese parent. On the face of it, this statement is surprising. They also share a same purpose: to improve infrastructure connectivity in Asia.