China's Old Men
& Tesla
How you doin’ guys? Welcome to the 4th edition of TodaysWorld. We’re so grateful that you’re sticking around. So far, we have been thoroughly enjoying uncovering global stories with you, and we’re here to do some more of that.
But, before we get started, it’s time for the task of the day!
📌 Pay attention to what you eat. Chew slowly and savor each bite. Be mindful of what you’re eating, just as you’re being mindful of what you’re reading.
Now, let’s get started, as we have something important to discuss.
🤨 China’s new policy is not sitting right
China's cooking up a new plan to spice up retirement with a slow-and-steady age bump over the next five years. Currently, men get to clock out at 60, while white-collar women get a little earlier, at 55, and working-class women get the earliest exit at 50.
But, with life expectancy now hitting 78, they’re thinking, “Why retire at 60 when you could keep working and get a gold watch at 65 instead?”
It may seem that the government is doing the old men a favor, but the long-term effects can be adverse. Here’s just a trailer of how things can go wrong:
📌 If older workers stick around in their jobs for longer than usual, it could create a bit of a bottleneck in the job market. This extended stay means fewer positions are opening up for younger people who are just starting out or looking to advance in their careers.
End result? YOUTH UNEMPLOYMENT
📌 There may be significant resistance from the public, particularly from those who have long planned for and anticipated an earlier retirement. For many, the idea of extending their working years could be seen as a major disruption to their life plans and financial arrangements. This resistance could manifest in various forms, such as public protests, social media campaigns, and heated discussions in public forums.
End result? MASS UPRISING
📌 Gradually raising the retirement age is not as simple as changing a few numbers; it involves a range of complexities that require careful consideration and management.
To begin with, there needs to be a comprehensive review and adjustment of existing policies to accommodate the new retirement age, including legal frameworks, pension plans, and labor laws. This might involve renegotiating contracts, revising benefits, and ensuring that pension funds are adequately prepared to support longer working lives.
In addition to policy changes, there's a need for targeted training and retraining programs. As workers age, they may need to update their skills or transition into less physically demanding roles. This means investing in adult education and vocational training programs that help older employees stay competitive in the workforce and adapt to new technologies and job requirements.
End result? COMPLETE CORPORATE RESTRUCTURING
So, that’s our two cents on it. You be the judge now…
👀 BTW, we got some dirt on Tesla
Tesla just had a whopping $25.5 BILLION by selling cars its competitors couldn’t. The secret? REGULATORY CREDITS!!
So, think of it as selling carbon credits to the cool kids who aren't quite eco-friendly enough. With their all-electric lineup, Tesla has credits to spare, and they cashed in nearly $890M from these sales, pushing their revenue to a record number.
But, it’s not all good news for Tesla too. Despite raking in the green, their $0.52 earnings-per-share didn't meet analyst expectations, and the stock did a dramatic 7% dive.
Track how Tesla’s stock is performing 👇
We arrived early today to give you some important updates. Keep an eye on our notes as we will soon share live market updates with you. Till then, watch your stocks and stay curious!
