China’s population has shrunk for the first time since the 1960s which will have long-term ramifications for the global economic order.
China’s population has fallen for the first time in more than 60 years as plunging birthrates threaten its status as the world’s most populous country which will have long-term implications for the global economy.
While the death-rate increased, the main reason for the historic decline was the sixth straight year of declining births in a society where many couples are “China’s demographic and economic outlook is much bleaker than expected. China will have to undergo a strategic contraction and adjust its social, economic, defence, and foreign policies. China will improve relations with the West.”
However, experts said the population crisis would be harder to solve. China’s population was expected to fall to 1.317 billion by 2050. Professor McDonald also said China’s economy would continue to get a tailwind from a younger, highly skilled cohort of workers in the short term that will make China far more productive, helping offset headwinds to economic growth created by a falling population.
Like Japan, which has suffered economic setbacks because of its ageing population, China does not embrace immigration to plug gaps in its workforce.
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