Social Security and Welfare System: Problems and Solutions

DOI

10.2991/978-2-494069-89-3_60How to use a DOI?

Keywords

Welfare system; Social security; Aging society; Fiscal policies

Abstract

Social security is one of a modern country's most critical socio-economic systems. The welfare system is also a crucial index in evaluating the development of a nation and stands as the fundamental pillar for political and social stabilities. However, conventional funding for the welfare system is at risk in an aging society. The widening deficit in labor participation to anticipated retirees posted a foreseen financial gap for most aging nations. China, the largest developing country worldwide, emerged as the second-largest economic body in the early 2000s through the excess human capital and low labor cost, now facing a drastic loss of labor inflow. The rise in consumption level for bearing the offspring, extended average life span, and the birth control policy have accelerated the gap. This paper mainly focuses on the fiscal adjustments to address the sustainability concerns of the current welfare system, and this study also discusses the ongoing changes made by other developed nations. Given that China is still a developing country, and it still has a long way to go before it can have a sophisticated and sustainable welfare system. This is the reason why China still needs to learn from developed countries with more experiences in this regard. There, through introducing successful social security models in other developed countries, this study will shed provide inspirations for improving China’s existing social security and social welfare system. Hopefully, this study will also attract more attention to the issue of China’s social security system and gather more efforts on this front.

Copyright

© 2022 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Jiayu Shen
PY  - 2022
DA  - 2022/12/30
TI  - Social Security and Welfare System: Problems and Solutions
BT  - Proceedings of the 2022 5th International Conference on Humanities Education and Social Sciences (ICHESS 2022)
PB  - Atlantis Press
SP  - 514
EP  - 521
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-89-3_60
DO  - 10.2991/978-2-494069-89-3_60
ID  - Shen2022
ER  -