• Title/Summary/Keyword: 老龄化

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Features and Implications of 'New Northeast Phenomenon' in China's New Normal Period (中国经济新常态下的 '新东北现象': 特征与含意)

  • Yoo, Eunha
    • Analyses & Alternatives
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    • v.6 no.1
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    • pp.259-282
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    • 2022
  • This article examines features and implications of 'new northeast phenomenon' in China's new normal period. Different from previous studies with economy as a single factor, this paper regards the northeast phenomenon as not an single economic phenomenon but a compound socio economic phenomenon that economic, demographic and financial issues are linked together. This study finds that since 2014 decline of economic growth, deepening of population decline and brain drain, accelerated aging, the increase in fiscal deficit and a surge in social security spending, these phenomena occur simultaneously and influence each other, forming a vicious cycle in northeast China, and also finds that the difficulty of 'new northeast phenomenon' lies in this compound features. If so, what are the implications of 'new northeast phenomenon's' these features for China as a whole? This study proposes two points. First, based on the recent changes in some relevant situations in China, northeast region can be regarded as a microcosm of China, northeast phenomenon is likely to spread to other regions of China in the near future, it will become a common phenomenon all over China. Second, the emergence of the 'new northeast phenomenon' in the new normal period requires deep reflection and rethinking about the fundamental effect of the regional development strategies, such as 'The Development of the Western Region', 'The Rise of Central China', 'The revitalization of the Northeast', implemented since the reform and development. The 'new northeast phenomenon' has become one of the most urgent problems to be solved by the Chinese government, if the solution is successful, it can be a very useful direction for reconstructing regional development strategies in contemporary China.