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China enters an unprecedented super-aging society. According to the National Bureau of Statistics of China, the total population of China in 2020 will be 1,411.78 million. While the birth rate was the lowest ever, the population aged 65 and over increased to about 190 million, and the “declining birthrate and aging population” became prominent.
It has been pointed out that the population may start to decline in 2022, and government think tanks estimate that the number of people aged 60 and over will approach 500 million in 2050.
As the population ages and the labor force declines, “economic growth,” which has been progressing at an astonishing pace, will reach a major turning point.
China’s real economic growth rate, which has been 7-8% a year in recent years, will “decrease to 3.3% in 2030,” said Ken Yitomi, a researcher at Wisconsin University in the United States, from the perspective that China’s working population will decline. It is estimated.
Since the “reform and opening up” by Mr. Deng Xiaoping in 1978, he has established himself as a “factory in the world” with the introduction of technology by foreign capital and the cheap labor force in Japan. However, since the mid-2000s, the influx of population from rural areas to urban areas has decreased, and labor costs have skyrocketed, especially in coastal areas.
“In 2015, China was transformed into a population onus (a state in which the population of the elderly and children is high in the total population, which is hindering economic growth), and even from an international perspective, the labor force and price competition Power has begun to decline moderately. So far, the consumption bubble has compensated, but the slowdown in economic growth will inevitably be inevitable, “said Tetsuya Watanabe, an economic critic.
The dissatisfaction of the younger generation continues to grow due to the increasing burden of social security due to the rapid aging of the population and housing difficulties due to rising real estate prices, especially in urban areas.