21st January 2023 (7 Topics)
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Aging factory
Context:
- China’s population decline can have devastating effect on its growth and world must learn from its journey and consequences of population dynamics.
The story of China’s population decline:
- Background: During the Mao’s era and communist policies, china faced a severe famine and its last population decline in 1961.
- Efforts for social stability: As China saw a continuous growth in its population for several decades; it imposed restrictions on its citizens for family planning and methods.
- The recent estimates: The shrinking of the world’s most populous country by as much as 8, 50,000 in 2022 marks a watershed moment with lasting consequences for China and the world.
Observed reasons:
- China’s one-child policy of 1980: Births in China has dropped in 2022 by more than 10% to 9.56 million, with 10.41 million deaths as China has spent the greater part of two decades trying and failing, to get families to boost birth rates that have been declining.
- Fewer children due to financial strain: A government survey found that 70% would not have more children citing financial reasons.
- Falling fertility rate: China reached this inflection point faster, with its fertility rate falling from 2.74 to 1.28 in the preceding four-decade period.
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