It was reported this week that the Chinese government, despite the programs for more Chinese children, has seen its birthrate drop to the lowest level since 1961. On Monday, China reported that there were 15.23 million births in 2018 – the lowest since 1961 when the number dropped to 11.87 million. Therefore the country now has a population of 1.395 billion, according to the National Bureau of Statistics.These numbers originated in Wind Information, a Chinese financial services firm.
This figure is a big drop from the 17.23 million born in 2017, translating into an 11.6 percent fall. The Associated Press reported that the population of 1.395 billion is the current population and the Chinese government is now reporting that the population peak will be in 2029 and the number of Chinese will be 1.442 billion, then start to decline in the years after that high. If they are not having replacement populations in the coming years, does this imply a fall, a sudden fall in population, it could.
Classiarius Viewpoint – Think about this fact. By 2060, 50 percent of the Chinese population will be 55 to 90 years old. If that projection is true, what about the costs of taking care of the elderly in China? How about the costs of a welfare state and the number of people – more likely robots by then – that will be needed to care for the sick. China lifted the “one-child policy” to encourage more births but this has had limited success.