Sorry, but I'll have to disagree on your point about China. That is no longer the case. And BTW, it is not good for us in the US because the Chinese population purchases goods from us and if the Yuan is devalued vs. the dollar it makes what we export more expensive and we lose money. As much as we hear about "Nationalism" it is a global economy and the US is affected by the economies of other countries.
I do agree that young people aren't planning for retirement. I see so many stories of young people moving to other countries because they want to escape the "grind" and live life to its fullest, but they have no jobs and are living off their savings. But then again, I didn't start seriously putting money in my 401k until I was in my 40's so maybe they are onto something.
The Chinese economy's decades-long run of tremendous growth has finally found its end, Ruchir Sharma wrote in the Financial Times.
Now, the world's second-largest economy accounts for a smaller share of global GDP.
"In a historic turn, China's rise as an economic superpower is reversing. The biggest global story of the past half century may be over," the Rockefeller International chairman said.
China's share of the global economy is falling by the most since Mao Zedong, and the historic turn could 'reorder the world'
