Back in the 80s the big worry was that Japan was going to buy up all of America. (They certainly seemed to be on pace to do so.) With their economic difficulties, we've moved onto other worries, like China. But will China's aging population demographic hobble their economy before it has ascended?
The world's most populous nation, which has built its economic strength on seemingly endless supplies of cheap labor, China may soon face manpower shortages. An aging population also poses difficult political issues for the Communist government, which first encouraged a population explosion in the 1950's and then reversed course and introduced the so-called one-child policy a few years after the death of Mao in 1976.
That measure has spared the country an estimated 390 million births but may ultimately prove to be another monumental demographic mistake. (NY Times)
"Family planning" a mistake? How can that be?
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