Is it hard, hard to be a kid in China? According to the National Bureau of Statistics, the country recorded 10.41 million deaths in 2022, against 9.56 million births, i.e. a population decline of 850,000 (for a total of 1.41 billion inhabitants). The fertility rate stands at 1.14 children per woman in 2021. 2023 could therefore be the year in which India (which also has 1.41 billion inhabitants in 2022 according to the United Nations and Info France) will overtake China as the world’s most populous country.
China’s population is shrinking, aging and consuming less
The second world power therefore appears to be on the verge of a demographic crisis.as its economic growth slows and costs rise. As a meteoric outbreak of Covid resurfaces there this winter, the figures could get even worse, especially since the country does not have the same level of social protection as other Asian powers whose populations are also declining such as Japan, Taiwan or even South Korea, it is Le Figaro.
However, an aging and shrinking population without social protection is a society that prefers to save rather than consume. to prepare for possible hard hits, but also a rarer workforce and in fact more expensive. It may therefore be that China too will lose its status as the Factory of the World. But at what cost? This should soon be felt in the fashion industry, in particular.
Front page photo credit: glaborde7 from pixabay via Canva.
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Source: Madmoizelle
Mary Crossley is an author at “The Fashion Vibes”. She is a seasoned journalist who is dedicated to delivering the latest news to her readers. With a keen sense of what’s important, Mary covers a wide range of topics, from politics to lifestyle and everything in between.
