It May Come as a Surprise to Many Americans, but Their Retirement Security...

Jul 15, 2007

''I think it is a complement, in the sense that they're going to be acquiring assets for pension funds and all these things, planning for a time when their boomers start retiring,'' said Robert Hormats, the vice chairman of Goldman Sachs International, a division of the giant investment bank.

China, he suggests, has a big incentive to create an effective retirement system. Almost 30 percent of its population will be older than 60 in 2040, according to a report by the Center for Strategic and International Studies, a center-right U.S. research center.