Darren Wee Guardian.co.uk, Monday 1 October 2012
China’s one-child policy and growing social security deficit mean it is getting old before it gets rich
Elderly Chinese men in Beijing play dominoes. Before 2009, only 30% of the population had a pension; now, 55% are covered. Photograph: Diego Azubel/EPA
Early in the morning, an army of older workers descend onto Beijing’s streets, rummaging through bins for recyclable materials. Plastic bottles can be sold for 1 mao (less than $0.02). For many older Chinese people, this is their retirement plan. The basic pension is just 55 yuan ($8.75) a month, forcing thousands to collect rubbish to make ends meet. Continue reading
