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2015 | OriginalPaper | Chapter

20. China’s Evolving Social Welfare System

Authors : Henk R. Randau, Olga Medinskaya

Published in: China Business 2.0

Publisher: Springer International Publishing

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Abstract

China is facing big social challenges as the current pension system is unsustainable and the healthcare system has many flaws. Both systems are underfinanced, give only limited help to those in need, and require more functional and effective regulations to avoid mismanagement. The weak social welfare systems are a major reason for the high savings rate (Chap. 2) in China and are harming the government’s efforts to boost spending (Chap. 5). In order to increase internal consumption, the government must find a way to boost the public’s confidence and provide them with a strong sense of welfare security.

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previous chapter Unequal Wealth Distribution

next chapter Corruption: Skating on Thin Ice

Bloomberg Businessweek, Chinese Rage at the Pension System, Dexter Roberts October 31, 2013, can be found at: http://www.businessweek.com/articles/2013-10-31/chinese-rage-at-the-pension-system

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Title: China’s Evolving Social Welfare System
Authors: Henk R. Randau
Olga Medinskaya
Publisher: Springer International Publishing
Book: China Business 2.0
Print ISBN: 978-3-319-07676-8

Electronic ISBN: 978-3-319-07677-5

Copyright Year: 2015
DOI: https://doi.org/10.1007/978-3-319-07677-5_20