China’s demographic crisis is casting a shadow over President Xi Jinping’s mid-century plans. A falling birth rate and an ageing population could threaten the country’s ambitions.
China’s demographic crisis could jeopardize President Xi Jinping’s future plans, which he calls the “great rejuvenation of the Chinese nation.” This is reported by “Newsweek”.
Despite significant progress in recent decades, which has helped millions escape poverty and established China as a global economic center, the country currently faces serious challenges such as weak domestic demand, an ongoing real estate crisis and high public debt.
China is worried about demographic trends similar to those in Japan, South Korea and Taiwan, where low birth rates and an aging population threaten long-term economic prospects.
2020 was the seventh consecutive year that China’s birth rate fell and the second year that more people died than were born. According to UN projections, China’s population will shrink from the current 1.4 billion people to 1.31 billion by 2050. However, some researchers, such as Fuxian Yi of the University of Wisconsin-Madison, consider this forecast to be too optimistic and believe that the population is already around 1.3 billion now and will fall to around 1 billion by mid-century if the birth rate remains stable at 0.8.
This declining demographic trend could have a significant impact on China’s ambitious plans for military and economic dominance. Its main competitor, the USA, also has a birth rate that is too low, but this is compensated for by immigration. The US population is forecast to continue to rise.