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China's population is aging rapidly: the old age dependency ratio will rise from 11 percent in 1999 to 25 percent in 2030 and 36 percent in 2050. Currently, three workers support one retiree; without reform, the system dependency ratio will climb to 69 percent in 2030 and 79 percent in 2050. The pension system has been in deficit, with an implicit pension debt in 2000 as high as 71 percent of GDP. The lack of an effective sustainable pension systemn is a serious obstacle to Chinese economic reform.
Book Synopsis Implicit Pension Debt, Transition Cost, Options and Impact of China's Pension Reform by :
Download or read book Implicit Pension Debt, Transition Cost, Options and Impact of China's Pension Reform written by and published by World Bank Publications. This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's population is aging rapidly: the old age dependency ratio will rise from 11 percent in 1999 to 25 percent in 2030 and 36 percent in 2050. Currently, three workers support one retiree; without reform, the system dependency ratio will climb to 69 percent in 2030 and 79 percent in 2050. The pension system has been in deficit, with an implicit pension debt in 2000 as high as 71 percent of GDP. The lack of an effective sustainable pension systemn is a serious obstacle to Chinese economic reform.
Book Synopsis Implicit Pension Debt, Transition Cost, Options, and Impact of China's Pension Reform by : Yan Wang
Download or read book Implicit Pension Debt, Transition Cost, Options, and Impact of China's Pension Reform written by Yan Wang and published by . This book was released on 2016 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's population is agi ...
The seventh edition of this annual report reviews the long-term prospects for developing countries in light of changes in the global environment and provides a detailed discussion of selected aspects of the global integration process in those countries. The first chapter evaluates prospects for the major elements of the external environment affecting developing countries and the medium-to-long-term outlook for developing countries themselves. The report forecasts that the external environment for developing countries remains broadly favorable. Among the main policy challenges faced by these countries is their ability to adapt to long-run shifts in market opportunities and heightened competitive pressures brought on by global trade liberalization--now increasingly focused on liberalization of trade in services--rising global production, and other forms of global integration. The chapter considers the implications for the world economy of rapid growth and integration in large developing countries such as China, India, and Brazil in the period to 2020. The second chapter looks at the move toward greater globalization of production, broadly defined as cross-border production by multinational enterprises and their networks of affiliates, subcontractors, and other partners. Within this context, the chapter addresses the significance of global production in world output in main groups of countries and economic sectors; factors driving the trend toward global production, including heightened competition, worldwide policy liberalization, and rapid technological progress; the benefits that developing countries can derive from global production, such as new technologies and improved efficiency practices; and the issues for policymakers seeking to enhance participation in global production and maximize its benefits for host countries.
Book Synopsis Old Age Security by : Ramgopal Agarwala
Download or read book Old Age Security written by Ramgopal Agarwala and published by World Bank Publications. This book was released on 1997-01-01 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The seventh edition of this annual report reviews the long-term prospects for developing countries in light of changes in the global environment and provides a detailed discussion of selected aspects of the global integration process in those countries. The first chapter evaluates prospects for the major elements of the external environment affecting developing countries and the medium-to-long-term outlook for developing countries themselves. The report forecasts that the external environment for developing countries remains broadly favorable. Among the main policy challenges faced by these countries is their ability to adapt to long-run shifts in market opportunities and heightened competitive pressures brought on by global trade liberalization--now increasingly focused on liberalization of trade in services--rising global production, and other forms of global integration. The chapter considers the implications for the world economy of rapid growth and integration in large developing countries such as China, India, and Brazil in the period to 2020. The second chapter looks at the move toward greater globalization of production, broadly defined as cross-border production by multinational enterprises and their networks of affiliates, subcontractors, and other partners. Within this context, the chapter addresses the significance of global production in world output in main groups of countries and economic sectors; factors driving the trend toward global production, including heightened competition, worldwide policy liberalization, and rapid technological progress; the benefits that developing countries can derive from global production, such as new technologies and improved efficiency practices; and the issues for policymakers seeking to enhance participation in global production and maximize its benefits for host countries.
Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Book Synopsis The Challenge of Public Pension Reform in Advanced and Emerging Economies by : Mr.Benedict J. Clements
Download or read book The Challenge of Public Pension Reform in Advanced and Emerging Economies written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2013-01-25 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Book Synopsis Assessing Chile's Pension System: Challenges and Reform Options by : Samuel Pienknagura
Download or read book Assessing Chile's Pension System: Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
China, the world's most populous nation, will enter a period of rapid aging very shortly that will redefine that country. Between 2010 and 2040, the portion of people 65 and older will rise from around 7% to between 25 and 30% of the population. As China ages, can it retain the youthful dynamism now driving it? China, the world's most populous nation, will enter a period of rapid aging very shortly that will redefine that country. Between 2010 and 2040, the number of people 65 and older will rise from around 7% to between 25 and 30% of the population. As China ages, can it retain the youthful dynamism now driving it? This book is an effort to try to capture the broad outlines of the significant economic, market, social, and demographic factors that will shape the future of China and the role that aging will play in the whole mix of influences. Aging in developed societies and economies has been widely studied. In such nations as Japan, Germany, Italy, and Spain, for example, we know that as populations age, their societies decline, leaving fewer younger workers to support the growing number of people who will become dependent on costly health care systems, or whose basic needs, such as food and shelter, will need to be subsidized. But less work has been done in assessing the potential impact of aging in developing countries, where the majority of people may be working poor, not middle class—as in the case of China. As China restructures its economy, the old benefits packages previously available to urban workers (and not rural workers) are being replaced by a patchwork of benefits across a wide range of enterprises.
Book Synopsis Aging China by : Robert Stowe England
Download or read book Aging China written by Robert Stowe England and published by Bloomsbury Publishing USA. This book was released on 2005-02-28 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: China, the world's most populous nation, will enter a period of rapid aging very shortly that will redefine that country. Between 2010 and 2040, the portion of people 65 and older will rise from around 7% to between 25 and 30% of the population. As China ages, can it retain the youthful dynamism now driving it? China, the world's most populous nation, will enter a period of rapid aging very shortly that will redefine that country. Between 2010 and 2040, the number of people 65 and older will rise from around 7% to between 25 and 30% of the population. As China ages, can it retain the youthful dynamism now driving it? This book is an effort to try to capture the broad outlines of the significant economic, market, social, and demographic factors that will shape the future of China and the role that aging will play in the whole mix of influences. Aging in developed societies and economies has been widely studied. In such nations as Japan, Germany, Italy, and Spain, for example, we know that as populations age, their societies decline, leaving fewer younger workers to support the growing number of people who will become dependent on costly health care systems, or whose basic needs, such as food and shelter, will need to be subsidized. But less work has been done in assessing the potential impact of aging in developing countries, where the majority of people may be working poor, not middle class—as in the case of China. As China restructures its economy, the old benefits packages previously available to urban workers (and not rural workers) are being replaced by a patchwork of benefits across a wide range of enterprises.
The story of China's spectacular economic growth is well known. Less well known is the country's equally dramatic, though not always equally successful, social policy transition. Between the mid- 1990s and mid-2000s---the focal period for this book---China's central government went a long way toward consolidating the social policy framework that had gradually emerged in piecemeal fashion during the initial phases of economic liberalization. Major policy decisions during the focal period included adopting a single national pension plan for urban areas, standardizing unemployment insurance, (re)establishing nationwide rural health care coverage, opening urban education systems to children of rural migrants, introducing trilingual education policies in ethnic minority regions, expanding college enrolment, addressing the challenge of HIV/AIDS more comprehensively, and equalizing social welfare spending across provinces, among others. Unresolved is the direction of policy in the face of longer-term industrial and demographic trends---and the possibility of a chronically weak global economy. Chinese Social Policy in a Time of Transition offers scholars, practitioners, students, and policymakers a foundation from which to explore those issues based on a composite snapshot of Chinese social policy at its point of greatest maturation prior to the 2007 global crisis.
Book Synopsis Chinese Social Policy in a Time of Transition by : Douglas Besharov
Download or read book Chinese Social Policy in a Time of Transition written by Douglas Besharov and published by Oxford University Press. This book was released on 2013-05-17 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: The story of China's spectacular economic growth is well known. Less well known is the country's equally dramatic, though not always equally successful, social policy transition. Between the mid- 1990s and mid-2000s---the focal period for this book---China's central government went a long way toward consolidating the social policy framework that had gradually emerged in piecemeal fashion during the initial phases of economic liberalization. Major policy decisions during the focal period included adopting a single national pension plan for urban areas, standardizing unemployment insurance, (re)establishing nationwide rural health care coverage, opening urban education systems to children of rural migrants, introducing trilingual education policies in ethnic minority regions, expanding college enrolment, addressing the challenge of HIV/AIDS more comprehensively, and equalizing social welfare spending across provinces, among others. Unresolved is the direction of policy in the face of longer-term industrial and demographic trends---and the possibility of a chronically weak global economy. Chinese Social Policy in a Time of Transition offers scholars, practitioners, students, and policymakers a foundation from which to explore those issues based on a composite snapshot of Chinese social policy at its point of greatest maturation prior to the 2007 global crisis.
This work provides an in-depth and up-to-date examination of civil-military relations in China. It reflects the significant changes taking place in Chinese society and their impact on the civil-military dynamic, with particular attention to how the military will fit in with the new class of entrepreneurs. Rather than focusing exclusively on elite Party-Army relations, the book examines civil-military relations from various vantage points: at "the center" and in the provinces; between civilian leaders and military leaders; from a strictly military perspective and from a civilian perspective; and from the angle of specific issue areas. Chapters explore issues, such as the impact of AIDS, the defense budget, the emerging dynamic between the military and China's new leadership, resettling demobilized troops back into civilian life, and the role of the militia, reserve units, and other civilian groups. The contributors are highly respected specialists in China studies, including political scientists, historians, PLA specialists, and sociologists. They present a vibrant portrait of the new civil-military dynamic in the PRC within the complex social changes that China is exploring today.
Book Synopsis Civil-military Relations in Today's China: Swimming in a New Sea by : David M. Finkelstein
Download or read book Civil-military Relations in Today's China: Swimming in a New Sea written by David M. Finkelstein and published by Routledge. This book was released on 2015-03-26 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work provides an in-depth and up-to-date examination of civil-military relations in China. It reflects the significant changes taking place in Chinese society and their impact on the civil-military dynamic, with particular attention to how the military will fit in with the new class of entrepreneurs. Rather than focusing exclusively on elite Party-Army relations, the book examines civil-military relations from various vantage points: at "the center" and in the provinces; between civilian leaders and military leaders; from a strictly military perspective and from a civilian perspective; and from the angle of specific issue areas. Chapters explore issues, such as the impact of AIDS, the defense budget, the emerging dynamic between the military and China's new leadership, resettling demobilized troops back into civilian life, and the role of the militia, reserve units, and other civilian groups. The contributors are highly respected specialists in China studies, including political scientists, historians, PLA specialists, and sociologists. They present a vibrant portrait of the new civil-military dynamic in the PRC within the complex social changes that China is exploring today.
"Formal pension systems are an important means of reducing poverty among the aged. In recent years, however, pension reform has become a pressing matter, as demographic aging, poor administration, early retirement, and unaffordable benefits have strained pension balances and overall public finances. Pension systems have become a source of macroeconomic instability, a constraint to economic growth, and an ineffective and/or inequitable provider of retirement income."
Book Synopsis Pension Reform and the Development of Pension Systems by : Emily S. Andrews
Download or read book Pension Reform and the Development of Pension Systems written by Emily S. Andrews and published by World Bank Publications. This book was released on 2006 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Formal pension systems are an important means of reducing poverty among the aged. In recent years, however, pension reform has become a pressing matter, as demographic aging, poor administration, early retirement, and unaffordable benefits have strained pension balances and overall public finances. Pension systems have become a source of macroeconomic instability, a constraint to economic growth, and an ineffective and/or inequitable provider of retirement income."
The dynamics of a global economy is being reshaped by the economic emergence of two Asian giants, China and India. How the world's two most populous countries manage globalization as they pursue economic reform and liberalization will impact significantly their societies, the rest of Asia, and the world.This book brings together articles by first rate scholars of China and India to share and discuss their research findings in four areas: Challenges, Opportunities and Responses to Globalization; Social Security and Governance; National Security in the age of Globalization; and Ethnicity and Identity in the New World.The book includes an opening address by Singapore's Minister Mentor Lee Kuan Yew, from his speech on “Managing Globalization: Lessons from China and India”, delivered at the official opening of the Lee Kuan Yew School of Public Policy on 4 April 2005.
Book Synopsis Managing Globalization: Lessons From China And India by : Gillian Hui Lynn Goh
Download or read book Managing Globalization: Lessons From China And India written by Gillian Hui Lynn Goh and published by World Scientific. This book was released on 2006-10-30 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamics of a global economy is being reshaped by the economic emergence of two Asian giants, China and India. How the world's two most populous countries manage globalization as they pursue economic reform and liberalization will impact significantly their societies, the rest of Asia, and the world.This book brings together articles by first rate scholars of China and India to share and discuss their research findings in four areas: Challenges, Opportunities and Responses to Globalization; Social Security and Governance; National Security in the age of Globalization; and Ethnicity and Identity in the New World.The book includes an opening address by Singapore's Minister Mentor Lee Kuan Yew, from his speech on “Managing Globalization: Lessons from China and India”, delivered at the official opening of the Lee Kuan Yew School of Public Policy on 4 April 2005.
