10.5 C
March 23, 2023
CNBC videos

What China’s Shrinking Population Means For The Global Economy

China remains home to 1.4 billion people. But that number is getting smaller.

The country’s National Bureau of Statistics reported China’s population slipped to 1.412 billion last year from 1.413 billion in 2021. The last time China saw negative population growth was in the 1960s.

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. "China is worried because its economic outlook is bleak."
China revised its one-child policy to two in 2016 and three in 2021. But despite the change, younger adults don’t seem to be in much of a mood to follow the policy and have more babies. The country has one of the lowest fertility rates in the world, falling to an all-time low of 1.28 in 2020.

"This one-child policy has the Chinese people accustomed to one child per family," said Xiaolin Shi, an assistant teaching professor at Northeastern University. "So you can imagine how hard it is to change people’s cultural attitude that has been such deeply rooted in their mind."

Some experts believe that slowing population growth is not only a concern for China but also a global concern, as the country has long been known as the world’s factory.

"The global consumer is going to feel what’s happening," said Mei Fong, author of ‘One Child.’ "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.

0:00 — Introduction
01:14 — China’s baby problem
04:32 — How the global economy depends on China
05:59 — How India’s a threat to China
07:14 – What’s next?

Produced by: Anuz Thapa
Narration by: Jordan Smith
Graphics by: Jason Reginato
Supervising Producer: Jeff Morganteen

For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi 

» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC



What China’s Shrinking Population Means For The Global Economy

Related posts

How to retire with $2 million if you make $100,000 per year #Shorts


What’s Wrong With America’s Houses


What Makes U.S. Shipping So Difficult | CNBC Marathon


2022 © TheCompanies *All rights reserved