March 27, 2023
Economy International

China’s Population Woes: Experts Warn of Economic and Global Implications

China's Population Woes: Experts Warn of Economic and Global Implications

China’s population is on the decline, with the National Bureau of Statistics reporting a slip from 1.413 billion in 2021 to 1.412 billion last year. This negative growth is the first the country has seen since the 1960s, and many experts point to China’s one-child policy, implemented in the 1980s, as the primary cause.

According to Yi Fuxian, a Chinese population expert at the University of Wisconsin-Madison, the one-child policy was a mistake, and China is concerned about its economic outlook as a result. Although China revised its policy to allow for two children in 2016 and three children in 2021, younger adults are not enthusiastic about following the policy and having more children. The country’s fertility rate is one of the lowest in the world, dropping to an all-time low of 1.28 in 2020.

Xiaolin Shi, an assistant teaching professor at Northeastern University, believes that the one-child policy has become deeply ingrained in Chinese cultural attitudes, making it challenging to change people’s minds. Experts warn that slowing population growth is not only a concern for China but also a global concern since the country has long been known as the world’s factory.

Mei Fong, author of ‘One Child,’ believes that what is happening in China’s bedrooms will affect the rest of the world. She warns that the global consumer will feel the effects of China’s declining population, which has significant implications for the world economy.

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