China ‘Banks’ Time for Its Elderly While U.S. Seniors Drown in Debt
After more than three decades enforcing its one-child policy, China finds itself with too many elders in need of care and too few caregivers to provide it. Now, the world’s most populous country is getting creative about solving this growing demographic dilemma.
On this week’s podcast, Bloomberg Shanghai Bureau Chief Charlie Zhu shares the surprising rise of “time banking,” where volunteers offer services to older citizens in exchange for credits they can tap when their time comes. Such an endeavor to support both the elderly of today and tomorrow is in stark contrast with the plight of…
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