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Difficulties in Baby Boomers

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Submitted By ARMANDOL33
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1.) What difficulties—from retiring baby boomers in the United States to a graying China, to the massive overhang of Europe’s elderly—can private corporations, governments, and other sectors expect as the aging revolution unfolds across the globe? How will changing demographics affect workforce composition? Retirement age? Pension outlays? Taxation? Immigration? Economic growth? How can governments, corporations, and nongovernmental organizations work together to address these issues? China is expected to lower production rates as people seem to be getting older and the amount of children that people can have in controlled and kept down to 1 per couple. With the population of China decreasing, the amount of workers will also decrease which will lower the amount of products that China is able to produce for the world. Since the 90s we have been seeing a decrease in the labor force. According to Rafferty (2014), retirement age is said to increase in China from 55 to 60 for women and from 60 to 65 for men to keep up with other nations which would allow more products to be created. The decrease in population will also decrease the economy.
The families which only have 1 child, only underscores the challenge of supporting the growing numbers of elderly Chinese (Wang, 2010). This means that only 1 child will be the one supporting two parents at the same time. This will bring many other issues for that child’s economic growth. Laws in China require the child to support the parents.
It is believed that between 20 and 30 million Chinese men will have a hard time finding a wife. The change in demographics will have the men in China leaving the country in order to find partners and even work. This will create an unbalance of sexes as well as the fact that conceiving while child per couple will bring a decrease in population as well. Millions of workers have gone to cities

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