China has been the largest population of the world for decades and to control their rapid growth the country introduced ‘One Child Policy’. The main aim of the government was achieved by introducing this policy but now China’s population demographics are of quite a concern.
The elderly population of China is much higher than the younger workers and the population of males highly surpass the population of the female in the country. Currently, women shortage in China is at 62 million. So millions of men in China won’t be able to marry. Along with this, there is a huge imbalance in the ratio of workers to retirees. All this will and is greatly affecting China’s economy.
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Now as China is suffering from declining population, the expectations are that India will replace China as the most populated country in the world by 2027.
The situation is alarming for China but hope remains in China’s Artificial Intelligence and automation industry that continues to flourish. By 2030 AI market alone will generate $7trillion in GDP. So even though population dynamics are a matter of worry for China, little will it affect the economy of the country.