Actually, I think this points out a path for China. China could address the issue of insufficient pensions for hundreds of millions of people by boosting the stock market. In the U.S., the stock market's surge has led to more people retiring early. More and more middle-aged and elderly Americans are accelerating their exit from the workforce. The labor force participation rate for people aged 55 and older has dropped from over 40% before the pandemic to 36.9% this July. Economists at Bank of America believe that rising wealth is the key driver. Over the past two years, the S&P 500 index has risen nearly 40%. With 401(k) accounts growing fatter, many Americans finally have the confidence to retire earlier.