Monday, October 18, 2010

Developing nations take advantage of our "demographic winter"

Ted Fishman has a sobering article in the New York Times Magazine for Oct. 17, “As Populations Age, a Chance for Younger Nations”, link (website url) here.

Fishman goes into a long discussion on how China can compete by cheating its older citizens, and relying on a “natural family” safety net that the West has socialized. For example, grandparents raise kids on the countryside whereas working age adults go to the cities to work. That’s kind of an inverse of Mao’s “Cultural Revolution” of the 1960s.

Fishman is author of “Shock of Gray: The Aging of the World’s Population and How It Pits Young Against Old, Child Against Parent, Worker Against Boss, Company Against Rival and Nation Against Nation”, which seems similar to “The Aging of the Great Powers” by Jackson and Howe et al, which I reviewed on my books blog Jan. 22, 2009.

The New York Times has also recently discussed the long period of deflation in Japan, which has certainly contributed to low fertility and the aging of its population.

People from immigrant groups into Europe tend to send money to relatives at home, even parents and sideway relatives, not just their own children.

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