China already has more people than any other country, so why did the Communist government just announce a new policy that will increase the population?
The answer is simple: Too many old people and not enough young ones.
The demographic imbalance is the result of a longstanding policy that limited most Chinese couples to one child. The policy was enacted to slow population growth, but it now threatens to stagnate the world’s second-largest economy because of its aging workforce.
So, at their recent meeting in Beijing, party leaders decided to relax restrictions on childbearing. In the past, only couples without any siblings, rural families whose firstborn was a girl and ethnic minorities were allowed to have more than one child. Under the new policy, couples can have a second baby if only one of the spouses is an only child.
Nobody expects the new rule to trigger a baby boom because many Chinese couples are reluctant to have larger families due to economic concerns. Experts predict it will lead to an additional 1 million to 2 million births a year, which would only make a small dent in the aging problem.
By 2050, an estimated one-quarter of China’s population will be 65 or over. In order to take care of its old people and provide enough younger workers to keep the economy growing, China may have to take more drastic measures like allowing everyone to have two children.
Who ever thought China would need more people?
