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>less productive as a worker SKR/JP/TW all have extreme work cultures relative to west for highend sectors that are globally competitive, society structuring l
by dirtyid 4y ago
>less productive as a worker
SKR/JP/TW all have extreme work cultures relative to west for highend sectors that are globally competitive, society structuring labour to work 100% harder to be 10% better than your lax competitors is not "efficient" but still viable way to brute force into leadership. Heartless capitalism works.
As for work/retirement dependency ratios - some considerations (and blame Zeihan for popularizing spasming over demographic pyramid and neglecting the politics in geoPOLITICs) there's a reason Chinese households have some of the highest house hold savings rate, most don't expect retiring with comprehensive safety net. CCP + citizens know they're not going to transition into developed high-income country with comprehensive welfare state anytime soon. Culturally and structurally PRC is relatively well calibrated to to weather a demographic decline, with likely a reversal in demographics when multiple inheritances starts concentrating into single children households once deaths > births in coming years. I'd expect baby & consumption boom especially among more affluent/educated regions with spare wealth.
TBH I'd be more worried over developed west ALREADY breaking down from being unable to support onerous welfare obligations that's been getting worse with immigration. There's a reason protests over generational QoL decline is happening in west not PRC. IMO implementing these trial [0] community centers for elders is pretty much enough to keep Chinese seniors content - cheap meals is enough to bribe people who rememeber hunger - old people who can't vote nor have energy to protest. Combine with recent focus on building out pharma & medsci sectors with automation [1] and ability to negotiate cheap bulk med acquistions = CCP should be able to take care of elder on a pareto budget. Few are going to complain CCP won't be spending magnitude more resources to stretch life expectancy from already above average of 78 to "high" level of 80-84. Nor would CCP want that burden if speaking heartlessly and strategically.
[0] http://sh.people.com.cn/n2/2021/1204/c134768-35035843.html http://sh.people.com.cn/n2/2021/1204/c134768-35035843.html
[1] http://www.xinhuanet.com/english/2021-08/12/c_1310123218.htm http://www.xinhuanet.com/english/2021-08/12/c_1310123218.htm