By 2040 there will be 400 million Chinese elders—which is more than the total current population of France, Germany, Italy, Japan, and the UK combined. The vast majority are due to reach old age without a pension or health-care coverage. The Graying of the Middle Kingdom warns that China must take decisive steps to prepare for its coming age wave or face a crisis of immense proportions later in the century. At stake is whether it achieves its aspiration of becoming a prosperous and stable developed economy.
