Can China's economy overcome its demographic deficit?

Browsing on Nanjing Road in Shanghai. While the overall Chinese population is forecast to shrink by 113 million between 2020 and 2050, the number of people over 65 is projected to rise. Photograph: Bloomberg How big a role will China's demographics play in its economic prospects? Inescapably, a big one. Indeed, it must be one of the most important factors in determining China's economic prospects. Even if there remains good potential for output per worker to rise, because China is a relatively poor country, a declining population and workforce will slow the growth of the economy. So, what might this…