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Sunday, July 12, 2009

Ageing China an opportunity and a potential disaster

All good marketers should understand global demographics. I am sure it is not something that is taught but it should be.

Here is a factlet that everybody should know - by 2030 China will have a higher proportion of its population who are 60+ than the US.

This weekend two excellent articles about this subject were published. You should read them both. If you only have a few minutes make sure it is the one from the LA Times. Here is the other one.

I love this quote: “China may be the first major country to grow old before it grows rich.”

"So what" I hear you ask. Well China has only a couple of decades to find a solution to its ageing problem. I suspect it will be far more fleet of foot about it than Europe and the US.

For Western companies that understand something about ageing and the associated services and products this is a terrific opportunity. But, just imagine that China puts its industrial muscle to work? Just imagine the flow of cheap ageing products into Western markets. Watch out Stannah Stairlifts! Dick Stroud

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