Keyu Jin

We have things like AI and not enough jobs and these kind of questions that are first order, right?

We haven't even figured out the relationship between labor force, productivity, you know, what are the factors of production that will be most important for future economy.

And so we shouldn't be terrified that there's a looming aging problem, because I think the more important question is that skill.

What kind of skills do we actually need in the economy?

What kind of education system should we design in the economy to better suit the country to an ever-evolving and transformative technological society?

Yeah.

If you look at the most recent evidence on this issue, they found that post-1990,

aging economies became richer.

Not the other way around, which was true for the pre-1990 sample.

And the reason is that these aging societies much more rapidly adopted new technologies, automation, that actually helped the entire economy.

So should we be panicking about this now when we're actually also panicking about the fact there are not enough jobs around?

There are other issues that are more relevant for the Chinese economy today.

Collapse is such a strong word, and the West has been using this word repeatedly, if I remember correctly, maybe four to five times, maybe even six times since 1980s during the period of China's fastest growth.

I tend to not think that Chinese economy will collapse, but with a slowdown continue, we'll be able to

lift up again?

Will it be able to come out of this cycle soon?

I think that's more relevant.

And the Chinese economy has a lot of potential because the fundamentals are still there, right?

When we talk about the fundamentals, it's the skills, it's the human capital, it's the physical capital, it's the macroeconomic stability and political stability.

That's a lot going for a country if you look around the world right now, right?