I’d also add that China actually does have future pension liabilities. China’s past one child policy is causing the pyramid to quickly go from 4-2-1 to 1-2-4 in

I’d also add that China actually does have future pension liabilities. China’s past one child policy is causing the pyramid to quickly go from 4-2-1 to 1-2-4 in terms of ratio of working to dependents; and young people are already not participating in pensions because they think its highly likely the systems will go bust and they won’t see a cent of their contributions. https://www.bloomberg.com/news/articles/2025-01-07/why-millions-of-china-s-gen-z-millennials-are-not-paying-into-pensions-podcast#:~:text=Asia%20podcast%20today.-,China's%20pension%20system%20is%20in%20danger%20of%20running%20out%20of,refusing%20to%20pay%20into%20it. https://www.bloomberg.com/news/articles/2025-01-07/why-milli...