china-s-population-falls-below-expectations-poses-economic-challenges

China’s population has witnessed a decline for the third consecutive year, posing significant demographic and economic challenges for the world’s second-most populous nation after India. 

 

Official figures released on Friday revealed a drop of 1.39 million people, leaving the population at 1.408 billion by the end of 2024.

 

The population reduction reflects a broader global trend but is particularly pronounced in East Asia, where countries like Japan, South Korea, and Hong Kong are experiencing similar declines due to plummeting birth rates.

 

Experts attribute this phenomenon to rising living costs, prioritisation of careers and education, and a lack of immigration policies.

 

China’s historic population boom in the mid-20th century, which saw its numbers double within three decades, has given way to an ageing society and a shrinking workforce.

 

The controversial “one-child policy,” implemented after the death of Mao Zedong, is often blamed for the nation’s current demographic woes.

 

While the policy was aimed at controlling population growth, it resulted in gender imbalances and contributed to a significant decline in birth rates.

The country now faces the repercussions of its earlier policies, with more than 22% of the population aged 60 or older.

 

Projections indicate that by 2035, this figure will surpass 30%, prompting discussions on increasing the retirement age, which remains one of the lowest globally.

Urbanisation continued unabated, with an additional 10 million people moving to cities, pushing the urbanisation rate to 67%—almost a percentage point increase from the previous year.

However, these developments have done little to alleviate concerns about the nation “growing old before it grows rich.”

The Chinese government’s measures to address the population decline, such as financial incentives for families and subsidies for housing, have yet to yield lasting results.

Meanwhile, the nation’s underfunded social security system and rising migration trends have compounded the crisis, leaving policymakers grappling with an uncertain demographic future.