Imagine the near population of the United States or over 4 times the population of the UK. In short 264 million people, put simply the number of people aged 60 plus years of age in China today. This population is the niche growth market today in their so called Xi Economy. Anything niche in China is big of course but this sector is the new Silver Economy. Only 42% of these people use the internet but that is about to change as circa 150 million are about to get Tech savvy.
In one year , last year over 80 million obtained internet accessibility in the country bringing the total to over 900 million. The Silver economy is joining forces and introducing Community buying for a range of goods including food. This mass purchasing or bulk buying reduces cost and thereby improves life quality for the elderly.
Regulations are now beginning to control monopolies where currently two companies control distribution and the likes of Alibaba control exclusivity but the Government are changing this. As a result the value of Monopoly Tech Companies dropped 30% to 50% on markets last year , roughly 1 trillion US dollars or the size of the entire Singapore market , wiped away as Regulation steps in. The production of Bitcoin and crypto currency is in their sight as crypto production of electrical energy bears heavy price in pursuit of zero carbon by 2060.
In the USA 74% of population have internet access whilst in UK it is 92% though quality of cabling in UK makes it a slower use and Companies like BT are racing to lay the fibre optic. The internet has changed the world and as this phenomenon develops we can expect to see a different world entirely during this century. The elderly are yet to play a bigger part as life expectancy increases and that grey hair is as Solomon said a sign of splendour. In the world that is changing the Silver economy is fighting back. Apps with larger fonts and more sound assist are helping the elderly lay away the sticks and get stuck into life in full. The age of retirement has now increased and often those who don’t retire live longer. The carriage clocks are being put away, the carriages are taking people on to new destinations.
Proverbs 20 v 28-29 tell us that a fair and honest King will remain in power, suggesting that righteousness is to be respected, that grey haired ruler will remain. Technology is not just for the oncoming generations but for everyone and getting tech savvy is a vital tool to have in life’s tool box. Governments like China and others ( remember the Boris Pre election promise of fast internet for all by 2025. ) The internet is the new railway and the means to connect China and the world.
qbitblogger 