Read about “Impact of an Aging Population on the Global Economy”
Jeremy J. Siegel, the author of “Impact of an Aging Population on the Global Economy”, is the Russell E. Palmer Professor of Finance at the Wharton School of the University of Pennsylvania. He has written and lectured extensively about the economy and financial markets, has appeared frequently on CNN, CNBC, NPR and others networks. Also, he served 15 years as head of economics training at JP Morgan from 1984 through 1998 and is currently the academic director of the U.S. Securities Industry Institute.
In “Impact of an Aging Population on the Global Economy”, Jeremy J. Siegel puts forward the idea that there is a global warming about the developing world’s growing importance and the developed world’s aging population, which are related to each other. He makes a deep research about the long-term demographic trends and the global solution, and points out that the developing countries of the world can solve the problems for the developed world. I agree with some of the author’s opinions, but I doubt some instances of developing countries.
Initially, I don’t think the developing country such as China doesn’t have the same age wave problem as the developed country. Although China has a great number of populations, the most families in China have only one child of each couple. Therefore, in the next few years, one worker should support 2 to 4 retirees at least, which means that the duty of workers in China is not as simple as the author thought.
On the other hand, I don’t agree with the opinion of “transfer of population and GDP”. From this part, the author said the GDP of developing countries will beyond the developed countries’ in the future. In fact, we cannot calculate easily by the number, because the base of developing country is different with the developed countries. The basis of developing countries is so low, they will still stay a low economic lever even if their GDP is high.
In summary, I think the author’s conclusion is too simple, he doesn’t know the enough real situation of the developing world, it may not solve the problem thoroughly.
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1 comment:
Wenwen, I am glad tosee that you have engaged with this text and that you have someopinins about the author's ideas.
Please make sure that you proofread carefully - as a writer you want the reader to focus on the content, and not on errors. For example,you mention global WARMING, when in fact it should be a global WARNING!!!
Also note the following:
' ...don’t think the developing country such as China doesn’t have the same age wave...' -you have a double negative here. Are you sure this is what you mean?
'On the other hand, I don’t agree...' you havenot used the correct transitional phrase here, as you did not agree with the first point, so you shouldn't use 'on the other hand'
Also, be careful in your summary not to be too condemning of the author - he is after all, an expert in economics and I am sure that he knows a lot about his subject. His article certainly had a lot of statistics and other information to offer support for his thesis. if you are going to disagree, you need to have strong support to back your ideas up!
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