Globalization has resulted in a comprehensive adjustment of the industrial structure totally. Since the 1970s，there has been a growing global expansion of financial capitalism because of the extreme expansion of credit，excessive leverage operation，and the advance consumption of US people，plus the demographic dividend has not been exhausted yet. Financial capitalism，therefore，becomes the leading element governs the direction of global social and economic development.

However，the past and the current generations expend in advance disposable incomes of the future generations. Borrowed prosperity can no longer continue at the eve of the 2008 financial turmoil. Lacking of global aggregate demand，deleveraging，deglobalization，regulatory strengthening constitute the “New Normal” tone.

Pension funds and other financial capital commodities were designed to solve the extended life after the elderly population retirement，but because of insufficient funding，the sovereign debt crisis，the aging of the population and the structural problems caused by low birth rate，we will face serious problem of the “generation struggle” in the near future.