SHANGHAI — As she turned 30, Shen Feifei’s life was right on track. She had graduated from a top university, landed a job at a multinational, and started a family.
But two years later, things are very different. Both Shen’s parents have been diagnosed with cancer, and the stress has become overwhelming. She often suffers from insomnia. Her sleek black hair is streaked with gray.
“I never imagined my parents could become that dependent on me,” Shen tells Sixth Tone. “I need to accompany them to the doctor, decide on treatment plans, soothe their emotions, and drive them around to check out cemeteries.”
Shen has already taken two demotions at work to free up time to fit in these extra responsibilities. She worries her company may soon terminate her contract.
If that happens, the financial pressure on her family will become severe. Shen and her husband have already had to sell an apartment in Shanghai worth 4 million yuan ($617,000) to help pay for her parents’ cancer treatment.
The 32-year-old is far from alone. She is part of a generation of young Chinese who are bearing the brunt of the country’s demographic crisis.
China is aging rapidly. By 2050, around one-third of the country’s population — nearly 500 million people — will be aged 60 or over, according to government estimates. It’s a transition that’s creating daunting social and economic challenges.
These changes are hitting China’s millennials especially hard. That’s because they are the “one-child generation” — born during the era when Chinese authorities enforced a nationwide one-child policy, which lasted from the late 1970s to 2015.
Read More at http://www.sixthtone.com/news/1008028/the-biggest-losers-from-chinas-aging-crisis
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