Aging China will bring the world into another globalization

Regarding population aging, PKU Financial Review interviewed Charles Goodhart, the developer of "Goodhart’s law", Fellowship of the British Academy, & professor at the London School of Economics, and Manoj Pradhan, Funder of Talking Heads Macro & former Managing Director of Morgan Stanley. This article is their thinking and reply on a series of issues. They point out that in the future, global overall economic growth may decline significantly, but per capita GDP will outperform the overall GDP growth. They argue that there are at least two sources of capital flows that could make China's pension system larger: one is to "redistribute" the massive savings of state-owned enterprises, and the other is to allow more young labour force to be employed in formal sectors, in order to create a more regulated pension system.