【Summary】
China’s economy is slowing down. An average annual growth rate has decreased 10% to 7.4%. The IMF said that China is moving to a ‘new normal’, characterized by slower yet safer and more sustainable growth. A new normal is needed because previous Chinese system becomes weak. The graying of society makes it difficult to contribute to the economy. Investment is another source of growth, but China’s investment level is already extremely high. So it is difficult to find the way to break a crisis.
【Opinion】
In the last class, we talked about this topic with my partner and think why Chinese economy is slowing down. As this article says, I think the factor is the decrease of workers by the ageing population. A lot of company from abroad have expanded to China, and many products all over the world are made in China. This is because the wage is low in China. So decrease of workers becomes the serious injury for China.
But ageing population is not only problem for China but also Japan. In Japan, it is remarkable in agriculture. The farmhouse faces the issue of successor, and the self-sufficient rate of food decreases, too. So we have to think about this problem seriously, and lead a solution.