China’s life expectancy rates have increased substantially from 44 years to 76 years over the past years. Even so, the United Nations project the country’s aging population will increase to nearly 870 million by 2050 (Wei, 2021). China’s 7th election showed that the country has the world’s largest elderly population with 455 million people aged 60 years and above and account for 32.2 % of the total population as of 2020 (Does China have an aging problem? 2020). An increasingly older population risks a country's economic productivity, which ultimately impacts global foreign exchange trading processes long-term due to the rising dependency ratio