China Grapples with Demographic Struggles as Population Declines for Second Consecutive Year
Image Source: Moneycontrol
In a concerning development for China, the nation has witnessed a second consecutive year of population decline, posing an escalating demographic challenge with significant repercussions for the world’s second-largest economy. The latest figures disclosed by China’s National Bureau of Statistics (NBS) indicate a reduction of around 2.08 million individuals, resulting in a population of 1.409 billion in 2023.
While the economic arena shows a growth of 5.2%, surpassing the government’s 2023 target of approximately 5%, it remains one of China’s most challenging economic performances in over thirty years. The dip in population is coupled with a historic low birth rate of 6.39 births per 1,000 people, down from 6.77 the previous year and reaching the lowest level since the establishment of Communist China in 1949. In 2023, only 9.02 million babies were born, a decrease from 9.56 million in 2022.
China’s working-age population, within the 16 to 59 age group, decreased by 10.75 million from 2022, while the number of elderly individuals aged 60 and above increased by 16.93 million during the same period. This follows the initial population decline in decades in 2022, marking a significant shift after China surpassed India as the world’s most populous country.
Despite the government’s endeavors to stimulate higher birth rates, including the discontinuation of the contentious “one-child” policy in 2015, the birth rate continues to dwindle. The policy adjustment aimed to address challenges stemming from a swiftly aging population and a contracting workforce that could jeopardize economic and social stability. However, the most recent statistics underscore persistent demographic concerns in China, despite these policy adaptations.
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