Chinese Population Has Experienced a Decline for More Than 60 Years.
For the first period in 60 years, China’s population declined last year. This historic development is likely to signal the beginning of a protracted period of population reduction, which will have significant effects on China’s economy and the rest of the world.
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The administration said on Tuesday that 10.41 million people died in China last year, compared to 9.56 million births. Since Mao Zedong’s disastrous economic experiment known as the Great Leap Forward, which led to massive hunger and deaths in the 1960s, this was the first time in China that mortality had surpassed births.
Chinese authorities have been attempting to delay the occurrence of this moment for years by relaxing the one-child policy and providing incentives to couples to have children. All such measures were ineffective. Now that the country is going through both a population drop and a long-term increase in life expectancy, it is entering a demographic problem that will have an impact not only on China and its economy but also on the rest of the globe.
Chinese Population Will Drop by 109 Million by 2050
Over the long term, according to U.N. experts, China’s population would drop by 109 million by 2050, which is more than quadruple the decline they previously predicted for 2019.
Domestic demographers bemoan the fact that China will age before it becomes wealthy as a result, slowing the business as earnings decline and government debt rises as a result of skyrocketing health and welfare spending.
“The demographic and socio-economic picture for China is far worse than anticipated. China’s social, financial, defense, and diplomatic strategies will need to be adjusted “said Yi Fuxian, a demographer.
Impact of Population Drop on the Chinese Economy
China has developed into a global economic superpower and manufacturing plant over the previous four decades. Life expectancy rose as a result of the nation’s transition from rampant poverty to the second-largest economy in the world, which contributed to the present population reduction as more people were becoming older and fewer infants were being birthed.
Another unsettling occurrence that has been accelerated by this tendency is the day when China will run out of working-age people to support the rapid economic expansion that has established it a driving force in the world economy.
According to Wang Feng, a professor of sociological studies at the University of California, Irvine who specializes in China’s demographics, “in the big scheme of things, we are likely to witness a China the world hasn’t seen before. “The population won’t be as young, alive, and expanding. In respect of its populace, we will begin to recognize China as having an aging and declining population.
India Will Be Becoming the Most Populous Country in the Year 2023.
The decline, which is the greatest since 1961, the final year of China’s Great Famine, supports forecasts that India would surpass China as the world’s most populated country this year. By the conclusion of 2022, the Population of china had decreased by almost 850,000, to 1.41175 billion, according to the National Bureau of Statistics.