The whole world is worried about China, the world’s second largest economy. The main reason for this is China’s economy. In which a continuous decline is being seen. The effect of this is being seen on the global economy. China’s real estate sector has reached the brink of ruin. Foreign companies have found their way into other countries or are continuing this process. Unemployment is increasing due to lack of work.
Well, the biggest reason for China is the continuously aging population of China. The government has asked people to get married and have children. The government is also giving offers for this. Even after that, there is no impact on the people of China. Due to the aging of the workforce, there is an impact on production. There is no shortage of young workforce in India. China is facing challenges from India on every front.
One child policy abolished
India is the most populous country in the world. After that is China’s number. To increase the young blood, the government has also abolished the one child policy in China. There is a shortage of work force in the entire country. Whose effect is now clearly visible on the country’s economy. The Chinese government is encouraging the people of the country to get married and then have children. For this, the government is ready to give many types of offers to such people. The continuously decreasing population and aging workforce has become a matter of concern for China.
The burden on China is increasing
The burden of aging workforce and continuous retirement of people is being seen on China’s economy. Because the government has to give them pension. At present, the population of people in China aged between 16 to 59 years is 875 million. This age group has 60 percent share in the total population of the country. According to China’s 2021 report, this age group will reduce by about 3.5 crore people in the next five years. This means that in the coming days, China’s workforce will decrease and the number of pensioners will increase.
Because of this companies are coming to India
Due to China’s aging population, the burden on the country is continuously increasing. Due to shortage of youth, it has become very difficult to get labour. Weak laborers are not available to work in factories. Because of which many companies around the world are reducing their production from China and moving it to other countries. India seems to be benefiting from this. Seeing the environment of India, many people are thinking of coming to the country. Because of which China is not able to tolerate this. On the other hand, India has left China far behind as an emerging market.
offers for those who want to have children
The aging workforce is having a negative impact on China, the world’s second strongest economy. If China does not prepare a new workforce in the coming days, it will become very difficult. It will become very difficult to handle the country’s economy. This is why the government of the country is asking women to get married and have children. Women are being given all kinds of inducements. Extra bonus, tax saving, paid leave and subsidy on child rearing expenses have also been announced.
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