Lawmakers approved the draft proposal Friday, as the world’s second-largest economy struggles with falling birth rates and an aging workforce.
China said Friday it would raise its retirement age for the first time in decades, as the world’s second-largest economy struggles with falling birth rates and an aging workforce.
The country’s top legislative body approved a draft proposal to gradually implement the changes, state media reported Friday. China’s retirement ages are among the lowest in the world and had remained unchanged since they were set in the 1950s.
The statutory retirement age for both men and women will be gradually increased starting Jan. 1 of next year, according to the decision by the Standing Committee of the National People’s Congress. Over a period of 15 years, it will be raised from 60 to 63 for men, 55 to 58 for women in white-collar jobs and 50 to 55 for women working in factories.
How marxist-lenninist of them…
https://en.wikipedia.org/wiki/List_of_countries_by_number_of_billionaires
China - 406
Right???
Fucking hell.
The french are throwing a hissy fit over that issue. The younger working class has to sacrifice their retirement because “the economy”. Meanwhile you got rich assholes parading on their huge yachts in St-Tropez and the French Riviera thanks to the money they make from dodging taxes.
Unlike in Capitalist countries, China’s billionaires don’t have much political power and actually face consequences for things like corruption, etc.
tfw China raises their ret. age and it’s still lower than yours
Funny how no one mentions that . Just the usual reactionary bulshit,
It’s not reactionary to be against authoritarians though. Whether they are bougie capitalist or bougie leninists/maoists. There are countries that better take care of their retirees. And are not socially repressive authoritarian regimes. It’s genuinely great that China offers that to the people they don’t imprison for asking for their rights and speaking out against the state. But I’m not sure living in a comfortable open air prison would be everyone’s idea of an ideal retirement.
I’m going to save my praise for the countries that do both.
You are child like in your naivety
It’s OK though, because China is communist and the workers own the means of produ… hhee… pro… sorry, I can’t say it with a straight face.
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That’s unfortunate. I thought they wouldn’t fall for this.
What do you mean, “fall for this”? What are they going to do — protest? Vote for someone else?
I mean I thought the CCP wouldn’t go that route, pretending the workforce can’t be productive enough to support their aging population without increasing the retirement age. I guess they either bought the (I think flawed) economic theory that this is needed, or they just want to extract more labor from the population and use that as pretense. Although given Xi’s “welfare bad” tendencies I guess it’s not surprising.
they either bought the (I think flawed) economic theory that this is needed
You’re putting me in the difficult situation of backing up the CCP on this one, but how could it not be needed? They kneecapped birthrates for a whole generation, and never recovered. Unless they fix birthrates or start allowing immigration, they have no other recourse than forcing people to work longer. Either that or they actually start acting communist and redistribute wealth so that the soon-to-be retiree generations can weather the storm.
Edit: also, look at that male surplus. Ouch.
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