Why Millions of Young Chinese Are Refusing to Make Pension Payments
China’s pension system is in danger of running out of cash within a decade due to severe underfunding. Now it faces a new threat: Tens of millions of mostly young workers are refusing to pay into it. On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Qianwei Zhang about why workers are boycotting the system and what’s at stake for the struggling economy and the Communist Party. Further listening: China’s Crackdowns Are Crushing the Dreams of a GenerationWatch, from Bloomberg Originals: Why Are China’s Youth Boycotting Pensions? See omnystudio.com/listener for privacy information.