<Tinfoil hat on>
We already know the system is broke and legacy costs are unstainable. We also know China has a LARGE aging population, not enough young to care for them, and no S.S.-type program.
So what if this is all about trying to get rid of pensioners.
100%...World wide...Or very-very close to it. Not the first time ageicide has been tried.
That's a lot of money saved, from having to be printed up.
Plus, its getting rid of history, so it cannot be told to the young ones. The system/left gets to dictate what history is. (Kinda like they are doing now, but without the pesky witnesses.)