Asians must wake up to the hidden costs of retirement
It is no secret that global debt levels are rising, and now stand above 300% of overall gross domestic product, to the consternation of at least some investors. Less well known is the equally disturbing fact that retirement liabilities -- future commitments covering pensions, health and social care costs -- are also rising rapidly and, in some countries, they already dwarf current debt levels. Today, this is primarily a problem for the developed world, including the U.S., Europe and Japan. But...