China’s population is shrinking. While the massive country is still home to 1.4 billion people — nearly one out of every five people on Earth — China’s National Bureau of Statistics announced that its population shrank in 2022 , falling by roughly 850,000 people. This shocking statistic is only the start of China’s population decline. This year India is set to surpass China’s population, and in a few years it will surpass China’s working-age population — people 20 to 69. The United Nations has estimated that if China’s birth rate remains at its super-low level and the country fails to position itself as an attractive destination for migrants, the country will lose nearly half of its population by the end of this century, a contraction of roughly 700 million people. Strong growth in its working-age population over the past several decades allowed China to become the world’s factory — over 70% of solar panels, 60% of farm machines, and 25% of robots are constructed with components from Chinese suppliers. Because of its manufacturing prowess and importance to supply chains, China’s shrinking working-age population has enormous, direct effects on the global economy. It’s also an omen for the US and […]
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