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How a young India will
beat China Conventional wisdom suggests that China will soon rule the world, because of its world leading population and massive gross domestic product growth. But the median age tells a different story. Because of the one child policy in China (the government has ruled that each couple may only have one child, to help limit population growth), the median age in that country is 33.2. India, on the other hand, has one of the youngest populations of the larger countries in the world, coming in at a very young 24.8. Japan has the second highest median age, just behind Monaco, at 43.5 years. Germany comes in at 43, the U.K. at 39.6, and the U.S. at a comparatively young 36.6. Brazil is at 28.6 years and Russia is much older at 38.2 If your company is in a business that requires a very long-term investment to be successful (primarily heavy industries like automobiles and steel)? And if you care about maintaining low wages for as long as possible--then would you consider China and India to be equivalent? I would place my bet on India, with its very young population. This will insure a ready supply of labor for quite some time. And normally lower age means higher productivity for labor intensive industries. For those older readers, or those of you who have studied labor costs and trends over the last 50 years, you'll remember that in the 1950s "made in Japan" meant low quality, very cheap merchandise. But in 1950, the median age in Japan was just 22! During the next 40 years, Japan became a powerhouse in manufacturing. Now, a mere 50 years later, this very same nation is the oldest major country in the world, one that is struggling with high costs and labor availability. When it comes to global happiness, young Indians score the highest, while Japan’s 'now' generation rounds out the bottom of the list, says a new survey, by Kairos Future Group of Sweden. Over 50% of the young Indians are very content with their lives as a whole, which can be compared with pessimists such as the young Japanese or Germans, where only 17% and 27%, respectively, are very satisfied with their lives. This satisfaction is also reflected in optimism about tomorrow. Living and eating well and spending time with friends receive more emphasis, the survey added. The survey covered 17 countries, including Italy, Russia, China and France. People between 19 and 29 were asked how satisfied they were with parameters like their job, life, family and government.
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