onsdag 12. mai 2021

Dealing with an aging China—Delaying retirement or the second-child policy?

Our research findings suggest that the economy can be improved in the short-term by delaying retirement age; however, Chinese economy would improve tremendously in the long run by implementing second-child policy. Compared to delayed retirement age, second-child policy would be more effective in improving the economy in China. In terms of industrial output, the three policies have a greater influence on labor-intensive industries, such as agriculture, light industry, finance, and service sector; the impact is less significant on construction and heavy industry. In terms of industrial import and export, these three policies have greatly influenced following industries: finance, electric power, and fossil energy. 

From a monetary perspective, these three policies can significantly improve household income; these three policies did not significantly impact both government and corporate incomes.