This article discusses the aging of China’s population. Although only 9 percent of China’s population is over age 65 at the moment, research predicts that 22 percent of the population will be over age 65 by 2040. Faced with a population that is getting older, China must now decide how it will care for its elderly. Specifically, this article delves into whether or not the nation will subscribe to Western-style retirement care for the elderly. Although the aging population presents an opportunity for new businesses that cater to the elderly, many researchers speculate that the Chinese will not simply abandon their parents to nursing homes. Cultural norms in China are staunchly against this, as the elderly are the most revered members of the family. With filial piety as a pillar of Chinese cultural virtues, it is not likely that the number of nursing homes will rise or experience much success. Furthermore, caring for their aging parents would likely put an added strain on the younger population in China.
To learn more, please click here: http://www.nytimes.com/2012/10/02/business/global/old-age-in-china-is-a-fledgling-business-opportunity.html?pagewanted=all