But not everyone is as sanguine."The major difference between China and countries like South Korea and Japan is that its demographic (stress is) biting at much lower levels of income," Mr Harris said.A 2019 report by the Chinese Academy of Social Sciences predicted that the country's main pension fund would be depleted by 2035, in part because of its shrinking workforce.Studies by US think-tank Pew Research showed that some seven in 10 people in China already felt its public health system was under strain in 2016. A greying population and the spiralling Covid crisis have placed additional stresses on it.
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