According to reports, Beijing’s population may decline by almost half by 2100, from 1.4 billion to 771 million. India will soon surpass all other nations in terms of population. Under Deng Xiaoping, the Chinese Communist Party (CCP) enacted the One-Child Policy in the 1980s. Beijing did gain from this programme as China’s economy steadily expanded and surpassed the United States to become the second largest in the world. Although the policy had favourable economic effects, it also had negative ones. It led to child obesity, the abandonment of young girls, and skewed sex ratios. According to data from 2014, China has almost 33 million more males than women, making it challenging for the majority of men to get married.
It is not that Beijing was not aware of what would be the outcome of the the One-Child Policy. The CCP chose to change it after realising the repercussions, first to a two-child policy in 2016 and then to a three-child policy in 2021. However, not much changed. The annual birth rate has been dropping even after the relaxation. The rising costs of housing, healthcare, and education have not aided China’s efforts to give its people a good reason to have more children. The ongoing Covid-19 pandemic may have played a significant role in this decline’s immediate catalyst. A significant portion of the population has experienced job losses, reduced earnings, and increases in healthcare and living expenses as a result of the epidemic.
Video Courtesy: DW News
The fact that China views itself as a developing economy and has a sizable labour force attracted investors. China’s consumerism will be impacted by a dwindling population, directly affecting global manufacturing. The CCP will have difficulties in freeing China from the middle-income trap.
The CCP and President Xi Jinping face a significant challenge as a result of the demographic decline. A China Dream that is reestablishing China’s position in the international order has been proposed by Xi. The demographic advantage and economic growth were important determinants in China’s achievement of nearly double-digit growth. However, the dramatic halt in economic growth and the healthcare issues brought on by COVID-19 have forced the CCP to reevaluate its development strategy.
After being elected to a third term as president, Xi has demonstrated his dedication to overcoming any obstacle in the way of China’s greatness and the CCP’s survival. Can Xi and the CCP overcome this obstacle, persuade Chinese folks to have more kids, and alter the country’s economic future? Or will China grow old before it fulfils its aspiration to become a developed country?
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