China’s powerhouse consumers are 60+
China’s 222 million people age 60+ have major economic clout. The value of products and services geared toward them may reach 33% of China’s domestic output by 2050. Caring for seniors will be China’s dominant industry by the middle of the century, and older adults will be its defining demographic. That presents challenges for the government and opportunities for business. Bloomberg.
Boomers will travel more in summer 2017
Those who think Millennials are replacing Boomers as the most-traveled generation are wrong. Boomers will be the single largest traveling generation this summer. Hospitality Net.
ESPN? Nah. Twitch!
40% of millennials prefer e-sports (competitive digital gaming) compared to 42% who still favor old-fashioned athletics. This has huge implications for television, NBA, NFL, sporting gear and merchandising. Venturebeat
California Senate passes single-payer bill
In spite of the bill’s focus on expensive fee-for-service healthcare, and with no proposal to pay for the $400 billion price tab, California’s senate passed SB 542. Arnold Schwarzenegger, a Republican, vetoed similar legislation in 2006 and 2008. Los Angeles Times.
Specialties cause unaffordable health care
Imagine building a house — and each specialist does their own thing. The plumber puts a sink in every room. The electrician installs chandeliers on every ceiling. That’s how health care works — according to this opinion piece in the New York Times.
Last week’s most popular US newspaper story
“The Death and Life of John Shields” (New York Times, front page, May 28) is a story about a terminally ill Canadian man’s death by lethal injection, after he attended his own wake. The story evoked strong reactions. Read Letters to the Editor.
People want 5 things from financial advisors
1. They want someone who will understand their situation.
2. They want someone who will educate them.
3. They want someone who will respect their assets, no matter how small.
4. They want someone who will solve their problems, not pitch products.
5. They want someone who will keep in touch. (Iris)