Econintersect: Most readers know Econintersect believes much of the “new normal” effects in the USA were caused by a demographic shift caused by an aging population. Aging populations do not consume as much as younger populations. China too has a growing aging population, and has been taking steps to install social safety nets. The latest safety net as reported by Xinhua:
“We must ensure that the new pension insurance system covers all rural residents and unemployed urbanites by the end of this year,” said Yin Weimin, minister of human resources and social security, at a launching ceremony for the campaign held in Xibaipo, a village in north China’s Hebei province.
More than 380 million Chinese have been insured by the urban-rural residents social pension insurance system over the past three years, with about 100 million aged people claiming basic pension granted by the state every month, according to the minister.
Read the entire post:
China widens pension coverage as population ages
– english.cntv.cn
Econintersect Recommended China Reads for Today:
Mainland-backed HK has more momentum
– english.cntv.cn
Work on China leadership change ‘smooth’: paper
– yahoo.com.sg
China’s top communist party newspaper said Sunday that preparations for a key meeting to set the country’s next leadership were smooth, despite a festering political scandal.China banks took 29 pct of 2011 global profit – study
– reuters.com
Analysis: Time to buy India? Some investors say yes
– reuters.com
China sends patrol ships to disputed waters: Xinhua
– yahoo.com.sg
China has deployed four patrol ships to a disputed area of the South China Sea, state media said Sunday, amid a deepening row with Vietnam over competing territorial claims.Because of sanctions, North Korea is unable to export weapons. So it is using its people to raise money. Most of their earnings will go directly to the North Korean regime.SEOUL — China is quietly inviting tens of thousands of North Korean guest workers into the country in a deal that will provide a cash infusion to help prop up a teetering regime with little more to export than the drudgery of a desperately poor population…China must keep property curbs: Vice Premier Li
– reuters.com
GLOBAL ECONOMY-China, Japan factory activity hits 7-mth low – Reuters
– news.google.com
Telegraph.co.ukGLOBAL ECONOMY-China, Japan factory activity hits 7-mth lowReuters* China official PMI above 50, Japan PMI below 50 * Both weakest levels in seven months as exports crumble * India, EU and US to post purchasing managers’ data Monday * Heightens concerns over health of global economy By Koh Gui Qing BEIJING, …China Manufacturing Growth Slows
– online.wsj.com
