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.
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China on Sunday launched a campaign aiming to provide pension insurance to all rural residents and unemployed citizens in order to help the country cope with its aging population
Hong Kong came under the international media spotlight Sunday as it celebrated the 15th anniversary of its return to China. A lot of media analysis focused on the Hong Kong-mainland relationship.
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.
LONDON (Reuters) – Chinese lenders accounted for almost a third of global bank profit last year, up from 4 percent in 2007, as they grabbed market share given up by struggling European peers, according to The Banker magazine’s annual rankings.
MUMBAI (Reuters) – India has gone from the country set to overtake China to the country that can do nothing right. Now, a few contrarians see signs India is turning a corner.
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…
BEIJING (Reuters) – China must maintain restrictions on home purchases, Vice Premier Li Keqiang was quoted as saying on Sunday, rejecting calls to relax property market restrictions as a way of keeping the economy growing.
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, …
Geng Yansheng, spokesman of the Ministry of National Defense (MND) of the People’s Republic of China (PRC), said at the regular press conference of the MND held on the afternoon of June 28, 2012 that China’s manned space engineering and China’s manned deep submergence engineering are both for peaceful purposes.
In a signal that the world’s second-largest economy hasn’t bottomed out, China’s manufacturing activity last month grew at the slowest pace since November.