China's 'Lifeless' Youth: Economist's Critical Speech Goes Viral (youtube.com)
‘Gao Shanwen said consumption growth is stronger in provinces with older population, and weaker in younger provinces. Old people ‘are full of vibrancy,' spending because they get a regular pension. ... He estimated 47m people who had gone to the cities for work have migrated back to their villages, and have ‘disappeared from the data’ because the data only captures labor in the urban areas.
However, some pointed out that although the pension is being spent, it could be spent not on the elderly themselves.
Analysts have been sensoring themselves in China so far.
Many people commented on SM to say that he is a brave man for saying this, and the content is less important than that his negative assessment appears to be tolerated. Much like in the US in recent years any time anyone spoke against the 3-letters.
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