#Actuarial Deficits
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The Solvency Paradox: Pension Deficits, Entrenched Privilege, and the Decay of China's Social Contract
An autopsy of China's public pension crisis at the intersection of actuarial insolvency and structural inequality. How legacy privileges drain the Pay-As-You-Go pool, triggering an opt-out cascade among the young that bureaucratic extraction can no longer contain.