The fiscal sustainability of China and the United States is of major concern globally. Based on comparative data analysis, this paper reveals that the government debt level of both countries is within the normal range...The fiscal sustainability of China and the United States is of major concern globally. Based on comparative data analysis, this paper reveals that the government debt level of both countries is within the normal range. Robust growth prospects of both countries will also vigorously support their future mitigation of government debt level. Comparatively speaking, China＇s government debt level is healthy and, despite extensive concerns, even its local government debt is not very high. The assessment that China may encounter a crisis is not supported by evidence. Yet in the long run, both countries will face pressures from increased fiscal spending on elder care and healthcare stemming from an ageing population, which will threaten their fiscal sustainability. These challenges require both countries to speed up reforms of elder care and healthcare. Specifically, China needs to focus on elder care reforms and the US should attach more importance to healthcare reforms.展开更多
Pension replacement rate in respect of almost everyone＇s retirement, about the sustainability of the whole pension system, stable relations of society as a whole. For the pension replacement rate study, researchers c...Pension replacement rate in respect of almost everyone＇s retirement, about the sustainability of the whole pension system, stable relations of society as a whole. For the pension replacement rate study, researchers conducted a more in-depth exploration, according to their different research needs to develop a different pension replacement rate concept. Based on previous studies scholars, for the relevant category of pension replacement rate to sort out, and for different categories of calculation method of the sort, in order to provide a reference for further study of the pension replacement rate.展开更多
The segmentation of the social protection system in China renders the system not only inequitable but inefficient.Those employed in the public sector,particularly civil servants,are＂overprotected＂,while workers in t...The segmentation of the social protection system in China renders the system not only inequitable but inefficient.Those employed in the public sector,particularly civil servants,are＂overprotected＂,while workers in the non-public sector,especially farmers and rural migrant workers,are＂under-protected＂.The segmented pension system impedes labor mobility while increasing administrative costs.Policies aimed at developing the new rural cooperative medical system and new rural old-age insurance scheme,as well as policies aimed at encouraging migrant workers to participate in urban social insurance programs,help improve the equity of social protection.Howere,competition between different local governments to win the ＂welfae crown＂ and the heavy brden placed on local finance caused by welface overspending has been hurting the sustainability of social protection programs.The following measures are suggested to address these problems;First,cease using social insurance coverage as an indicator of work performance for government officials;second,enhance the responsibility of the central government in social expenditure while increasing public transfers to less-developed regions in order to improve social assistance and merit goods provision;third,integrate or reorganized various sgements into one entity under each insurance program,with the purpose of eventually eliminating the segmentation problem in China＇s social protection system.展开更多
文摘The fiscal sustainability of China and the United States is of major concern globally. Based on comparative data analysis, this paper reveals that the government debt level of both countries is within the normal range. Robust growth prospects of both countries will also vigorously support their future mitigation of government debt level. Comparatively speaking, China＇s government debt level is healthy and, despite extensive concerns, even its local government debt is not very high. The assessment that China may encounter a crisis is not supported by evidence. Yet in the long run, both countries will face pressures from increased fiscal spending on elder care and healthcare stemming from an ageing population, which will threaten their fiscal sustainability. These challenges require both countries to speed up reforms of elder care and healthcare. Specifically, China needs to focus on elder care reforms and the US should attach more importance to healthcare reforms.
文摘Pension replacement rate in respect of almost everyone＇s retirement, about the sustainability of the whole pension system, stable relations of society as a whole. For the pension replacement rate study, researchers conducted a more in-depth exploration, according to their different research needs to develop a different pension replacement rate concept. Based on previous studies scholars, for the relevant category of pension replacement rate to sort out, and for different categories of calculation method of the sort, in order to provide a reference for further study of the pension replacement rate.
文摘The segmentation of the social protection system in China renders the system not only inequitable but inefficient.Those employed in the public sector,particularly civil servants,are＂overprotected＂,while workers in the non-public sector,especially farmers and rural migrant workers,are＂under-protected＂.The segmented pension system impedes labor mobility while increasing administrative costs.Policies aimed at developing the new rural cooperative medical system and new rural old-age insurance scheme,as well as policies aimed at encouraging migrant workers to participate in urban social insurance programs,help improve the equity of social protection.Howere,competition between different local governments to win the ＂welfae crown＂ and the heavy brden placed on local finance caused by welface overspending has been hurting the sustainability of social protection programs.The following measures are suggested to address these problems;First,cease using social insurance coverage as an indicator of work performance for government officials;second,enhance the responsibility of the central government in social expenditure while increasing public transfers to less-developed regions in order to improve social assistance and merit goods provision;third,integrate or reorganized various sgements into one entity under each insurance program,with the purpose of eventually eliminating the segmentation problem in China＇s social protection system.
