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China's birthrate has plunged, with the number of newborns in 2023 falling by 500,000, to about 9 million. AdvertisementDecades of China's one-child policy have created a demographic nightmare for the world's second-largest economy, and millions of school teachers could soon be left without a job as birthrates tumble. If those classes don't scale back, China could see a surplus of 1.5 million primary school teachers and 370,000 middle school teachers by 2035, according to a Tuesday report from the South China Morning Post. Last year marked the second consecutive year that China's population shrank, according to the country's National Bureau of Statistics. Total primary school students, too, declined in 2022 for the first time in a decade.
Persons: China's birthrate, , it's Organizations: Service, South China Morning, country's National Bureau of Statistics, Education, China National Academy of Educational Sciences, Terry Group, Terry, UN Locations: China, Beijing, Hangzhou
China's ruling party introduced a "three-child policy" in 2021, welcoming families to have more than two children. A solution for China's demographic crisis likely won't come through a few policy initiatives, Wang argued. The law was introduced, in part, as an effort to boost the country's birth rate. Taiwan has so far invested $3 billion in implementing programs to get more citizens to have children, The Los Angeles Times reported. This is a "global shift," Wang told BI.
Persons: , Wang Feng, Wang, BI's Huileng Tan, China's, Ethan Michelson, Michelson Organizations: Service, country's National Bureau, Statistics, Business, University of California, Communist Party, Chinese Community Party, Ethan Michelson , Indiana University Bloomington's, East Asian, BI, Los Angeles Times Locations: country's, China, Irvine, Hangzhou, East China, Wenzhou, Ethan Michelson ,, Seoul, South Korea, Italy, Taiwan
China's population fell for a second consecutive year as the birth rate reached a record low. AdvertisementFor the second year in a row, China's population fell. But still, the Chinese population — young people, in particular — did not bite. The law was introduced, in part, as an effort to boost the country's birth rate. This is a "global shift," Wang told BI.
Persons: , Wang Feng, Wang, BI's Huileng Tan, China's, Ethan Michelson, Michelson Organizations: Service, country's National Bureau, Statistics, University of California, Communist Party, Chinese Community Party, Ethan Michelson , Indiana University Bloomington's, East Asian, BI, Los Angeles Times Locations: country's, China, Irvine, Hangzhou, East China, Wenzhou, Ethan Michelson ,, Seoul, South Korea, Italy, Taiwan
"You're too old to work at 35, but too young to retire at 60," one person wrote, bemoaning the "curse." It refers, specifically, to the typical Chinese employer's preference for hiring workers who haven't reached the sell-by date of their 35th birthday. And it's not just about finding work — Chinese workers being phased out at what was previously viewed as the prime of their careers means their livelihoods could be seriously affected. "At this point in time, youth unemployment is high, so many young workers are willing to work for less. Seah told Insider that increased competition for younger workers "will eventually drive up youth wages, making them relatively more expensive to hire."
Persons: haven't, Hector Retamal, Huang, Tania Lennon, Lennon, I, Kevin Frayer, workhorses, Kelvin Seah, Seah, aren't, National University of Singapore's Seah Organizations: Twitter, Service, Getty, Peterson Institute for International Economics, International Institute for Management Development, China Initiative, Bureau of Statistics, National University of Singapore, National Bureau of Statistics, Employers, National University of Singapore's Locations: China, Wall, Silicon, Weibo, Beijing, AFP, Quy Huy
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's shrinking population: What it means for the global economyChina made global headlines in January when it announced a drop in its population for the first time since the 1960s. The country's National Bureau of Statistics reported the population total narrowed to 1.412 billion last year from 1.413 billion in 2021. Watch the video above to find out what caused this decline and how the shrinking population could alter the global economy.
The country's National Bureau of Statistics reported China's population slipped to 1.412 billion last year from 1.413 billion in 2021. Many experts believe that China's one-child policy, introduced in the 1980s, is one of the main reasons for the population decline. "China's one-child policy was a mistake," said Yi Fuxian, an expert on Chinese population trends at the University of Wisconsin-Madison. "What's happening in the bedrooms in China is actually affecting what's happening in the rest of the world." Watch the video above to find out what caused China's population decline and how the shrinking population could alter the global economy.
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