Too many people. Too few people. Capitalism is always in crisis.
China's gross domestic product has increased at an average annual rate of about 8 per cent since 2000. The equivalent figure for the US has been a bit less than 2 per cent. As things stand,
China will contribute more than one-fifth of the total increase in global GDP in the five years through 2026, according to Bloomberg calculations based on International Monetary Fund forecasts published April.
The US will account for 14.8 per cent, with India and Japan chipping in 8.4 per cent and 3.5 per cent, respectively. Anemic population growth, or an outright drop, is likely to mean slower overall expansion, even if GDP per capita may continue to climb.
The working-age population in China dropped to 63.4 per cent from more than 70 per cent a decade ago, while the share of residents aged 60 and above has risen.
Japan’s population peaked in 2010 and South Korea logged its first dip in 2020. Singapore reported its first decline since 2003 last year.
These nations has long contended with an aging society and a diminished fertility rate, with its citizens consistently resisting policies to produce more children. Living standards rise, people spend more time in school, get married later, face more expensive living costs and want to spend more on the one child they do have.