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jirapotn66 Offline
#1 Posted : Friday, January 14, 2022 4:36:08 AM(UTC)

Rank: Advanced Member

Joined: 9/29/2021(UTC)
Posts: 158

China's population rebirth rate drops to lowest in more than 40 years, reflecting labor shortage crisis including the signal entering the aging society

This year has been a bad year for the economy due to the Evergrande Property Crisis. Including the Covid that has slowed exports. However, these things appear to be only short-term problems. Compared to the issue of the emerging population that will affect China in the long run The world's number 2 economic powerhouse

Business Insider reported that The latest data from the ChinaSLOTXONational Bureau of Statistics revealed that The birth rate for Chinese citizens is just 8.5 per 1,000 inhabitants, the lowest figure since China has collected data since 1978.

The “one-child policy” is the root of this problem. Despite the Beijing government canceling it in 2016, with China's growing economy. expanding urban society This makes raising children in China more expensive than in the past. coupled with more women to focus on their careers In line with the World Bank said that China's population aged 15-64 has declined since 2010.

Greg Botham, China's chief economist at Pantheon Macroeconomics, estimates that five to ten years from now, the issue of China's population and productivity is starting to slow. will become a major obstacle to China's economic expansion

If you think of the famous saying, "When China sneezes, the world economy will catch a fever," this sign of a slowing population isn't just China's internal problem.

Since the 1978 economic reform, China's economy has grown at an average of nearly 10% annually. The Chinese economy accounts for more than 17% of global GDP and a 15% share of global trade, along with investment through the modern Silk Road. Chinese labor slowdown may cause foreign investment may begin to slow down directly affecting developing nations.
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