China's decision to raise its retirement age, effective 2025, is a response to a shrinking workforce and pension budget shortfalls, although critics argue it will be insufficient.
Yi Fuxian emphasizes that delaying retirement age has come too late. Had changes been made 20 years earlier, China might have avoided the current demographic crisis.
Eli Friedman warns that simply raising the retirement age will not alleviate workforce contraction. Young women remain hesitant to start families despite government incentives.
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