Chinese Central Bank (The People’s Bank of China) recently released a report on Demographics.
Report on Demographics of China
- According to the report of Demographic, the strict birth policies of the People’s Republic of China has led to the problem of dwindling work force and the problem of ageing population. Dwindling means gradually diminishing.
- The report also highlights that Chinese Communist Party should liberalise birth policies to tackle the problems of ageing population.
- The People’s Republic of China is to experience a negative growth after 2025.
- After the 2025, China will face shortage in consumer demand.
- The working population of China has been declining since the 2010. This has largely affected the supply side of the Chinese economy. This is to hit China very badly as the Chinese Communist Party has planned to drive its growth through domestic consumption.
Report on Demographics of India
- The report highlights that the gap between India and the People’s Republic of China has been narrowing. On a single hand, the economic growth of China has been faster than India’s. On the other side, the demographic dividend of China is fading. Above all, the economic growth of India is fast approaching towards China.
- The declining birth rate and ageing population of China will become more serious in a decade. On the other hand, India’s demographic structure will be much optimised in a decade.
- India’s labour force will exceed China’s by hundreds of millions.
- By the 2050, the demographics of India will have much wider workforce and narrower elderly population. This will help India to grow in a faster rate.
Report about the USA
- According to the report, the United States of America mainly benefits from immigration.
China’s central bank report on India’s demographic advantage China’s central bank report on India’s demographic advantage