torsdag 13. mai 2021

China’s aging population will be a ‘big shock’ to the global supply chain, says economist

An ANZ economist warned on Wednesday that China’s aging population will have a big impact on the world as the global supply chain is highly reliant on the world’s second-largest economy.

China’s once-a-decade census released on Tuesday showed the population of the mainland grew to 1.41 billion people as of Nov. 1, 2020. That was the slowest growth rate since the 1950s. “The trend of the old age dependency is going to rise … This is a warning not only for China, but also across the whole world, as China is the core of the supply chain,” Raymond Yeung, Greater China chief economist at ANZ, told CNBC’s “Squawk Box Asia.” “Over the next few years, China will be losing 70 million (of its) workforce … so this is a big shock to the global supply chain.”