China's Population Decline Sparks Economic Concerns

CNChina|

China's population has decreased for the third consecutive year, with figures indicating a drop of 1.39 million people in 2024, bringing the total to approximately 1.408 billion. This decline highlights ongoing demographic challenges, as the nation grapples with an aging population and a shrinking workforce.

The report from Beijing reveals similar trends seen in other East Asian countries, such as Japan and South Korea, where low birth rates have emerged as a significant concern. Economic factors, including rising living costs and the pursuit of higher education, have led many young people to delay marriage and childbearing.

China's population policies have shifted dramatically over the decades, moving from a restrictive "one child policy" to recent incentives encouraging families to have more children. However, these measures have produced limited results, as the birthrate continues to fall sharply, contributing to labor shortages and straining the social security system.

With over 22% of the population now aged 60 and above, experts warn that by 2035, this percentage could exceed 30%. The government's focus on military spending and infrastructure projects is juxtaposed against the challenges of supporting an aging demographic.

The conditions are worsening for a nation colloquially thought to be "growing old before it grows rich," spurring discussions on necessary reforms, including potential adjustments to the retirement age.

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