Better Late than Never: Beijing to Confront the Hard Painful Reality

Casual observers of the proceedings of the annual National People’s Congress (NPC) may be tempted to dismiss them as a ritualistic exercise with little impact on the lives of the Chinese people. Such a conclusion, while not totally groundless, nevertheless misses an important public policy debate revealed during this year’s NPC session – reforming China’s troubled retirement system. The challenge confronting Beijing is simply the lack of money to fund the explosive growth of pension benefits.



Minxin Pei, Professor, Claremont McKenna College via CHINA US Focus http://ift.tt/1Ls5ttL