July 21, 2023
2 mins read

China grapples with economic effects of ageing society

China’s population control measures, which were prevalent between the late 1970s until the years 2013-2016, were in fact successful in reducing its huge population….reports Asian Lite News

A slowing population growth coupled with a steady increase in the ageing population is contributing to the deceleration of China’s economic growth, thereby impacting its journey to become the number one economy in the world, Asian Institute for China and IOR Studies (AICIS) reported.

As per recent data released by the China Power Project at the Centre for Strategic and International Studies, China’s population has dwindled for the first time in several decades. The country has for long, reaped the benefits of having a large, young workforce that significantly drove its emergence as a global industrial powerhouse. According to UN figures published earlier this year, India has now surpassed China in terms of its population and has bagged the label of the most populous nation in the world.

China’s population control measures, which were prevalent between the late 1970s until the years 2013-2016, were in fact successful in reducing its huge population.

According to a CGTN report, this was followed by a dip in China’s birth rate wherein the average household size fell from 3.1 to 2.6 persons between 2010 and 2020. These records become vital in understanding why there was no real growth in its population even after an alteration in government policies that encouraged childbirth.

This crisis has been accelerated by the COVID-19 pandemic. Its unpredictability has had an adverse mental impact which has made people decide against having children owing to the financial brunt that would follow.

As per AICIS, young Chinese born in and around the 2000s, currently in their early twenties, are not ready to have kids yet. The government is having a hard time trying to convince its young citizens to bear more children even as the latter do not feel the need or “responsibility” to produce more children just because the birth rate of their country is falling.

The fact that China is sitting on a “demographic time bomb” has, however, not created “any sense of urgency” among its young population even as the government is staying on full alert, according to AICIS.

China has seen a substantial surge in the number of people in the category of senior citizens. The increasing expenditure on pensions and the steadily increasing number of old-age homes are indicators of this reality.

As a result, many young couples are burdened with the healthcare and medical expenses of their parents and even some of the grandparents, in addition to their children. (ANI)

ALSO READ: China’s Rocket Force Ascends Unexplained

Previous Story

PM Shehbaz, son acquitted in money laundering case

Next Story

China-Linked Hackers Breach US Ambassador’s email accounts

Latest from -Top News

WUC Intensifies Global Call for Uyghur Justice

WUC delegation undertook a week-long advocacy tour in Germany, where it met with Turkish NGOs and community leaders….reports Asian Lite News The World Uyghur Congress (WUC) has published its monthly brief, strengthening

India Urges Bangladesh to Act on Minority Attacks

MEA spokesperson Randhir Jaiswal urged the Yunus government to probe extremist attacks on minorities….reports Asian Lite News India on Friday criticised recent comments by Bangladesh’s Home Advisor Jahangir Alam Chowdhury, asserting that

Jaffar Express Targeted Yet Again

blast happened at a distance of one kilometre from the Sultan Kot railway station….reports Asian Lite News At least seven injured as blast hits Quetta-bound Jaffar Express in Sindh’s Shikarpur district. Shikarpur

India to Join G20 Energy Talks in South Africa

The meeting is being hosted under South Africa’s G20 Presidency in the country’s KwaZulu Natal province…reports Asian Lite News Union Power Minister Manohar Lal will represent India at the G20 Energy Transitions
Go toTop

Don't Miss

Chinese debt trap: Lanka going Ugandan way

Lankan former Army Commander alleged that it has been made

China targets activists on Human Rights Day

Rights activist Li Wenzu and her rights lawyer husband Wang