Se­niors driv­ing con­sump­tion up

China Daily (Hong Kong) - - BUSINESS -

As much of work­ing-age Ja­pan frets about hav­ing enough money in old age, the na­tion’s se­niors are in­creas­ingly prop­ping up con­sumer spend­ing, ac­count­ing for the lit­tle growth in con­sump­tion the coun­try has seen in re­cent years. It is some­thing of a para­dox. In rapidly aging Ja­pan, the world’s old­est coun­try, the grow­ing num­ber of se­niors is seen pos­ing big chal­lenges for the fu­ture, par­tic­u­larly for public fi­nances as the pen­sion sys­tem comes un­der grow­ing strain. For now, though, the el­derly are do­ing more than their share to keep the world’s third-largest econ­omy go­ing.

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