China’s economy: what’s its weak spot?
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- čas přidán 10. 05. 2024
- The number of working-age people in China is shrinking. Could this threaten the country’s rise as an economic superpower? Read more here: econ.st/3dgzqz0
Find all of our coverage about China here: econ.st/3qpd7wz
Read our special report about Chinese youth: econ.st/2TXmwzd
Is China’s population shrinking? econ.st/3vTXxu2
Listen to an episode of “The Intelligence” podcast about China’s census: econ.st/3wSqrvK
How can countries such as America and China raise birth rates? econ.st/3wVlXEP
China’s economy zooms back to its pre-covid growth rate: econ.st/3wTjt9V
How education in China is becoming increasingly unfair to the poor: econ.st/35Tr8cc
Why more young Chinese want to be civil servants: econ.st/2U2my8R
China’s Communist Party at 100: the secret of its longevity: econ.st/3gQQopP
Read our special report about 100 years of the Chinese Communist Party: econ.st/3vUkOM8
Little red look: 100 years of Chinese Communist Party style: econ.st/3wVhrpF
Read about the racially targeted birth-control policies in Xinjiang, China: econ.st/2U0CBUI
Kai-Fu Lee on how covid spurs China’s great robotic leap forward: econ.st/2U1dscN
And many young adults belong to sandwich generation. They are expected to financially support their retiring parents and younger siblings, while parents still expect them to marry and give them grandchildren. That's just too unreasonable
@Any Ideas? At least Germany has a functional social security system, China has only just begun setting up a system but the job's way too daunting because it's very expensive.
agree
@@hyphen2612 the problem with this is you breed resentment within age groups. The old might just choose to demand change or go back to the old ways.
💯
I think that's what most young people go through around the world.
imagine quitting your job because doing a PhD would be easier and less stressful LOL
An excellent point.
😂😂😅😅
I did that - and I am an American citizen. I quit my job to pursue a PhD which gave me my life back.
yeah all kinds of works have their own difficulties, you can not say doing PHD is much harder than them, in some industries the biterness come later, some earlier, some need long time patience and focus and yet at the cost of losing your own mind or restricting your own development, or even at the cost of your own health
It is also like this in Germany working for the University is less stressfull than for a company in most cases.
I worked at a company that would buy us lunch at a nice restaurant once a week. But most of us could not afford to go because the workload didn't allow us to take a long lunch. This is the same as China's 3 children policy. Saying you can have 3 children without having the time or money for 3 children only makes you depressed.
I feel for you China, it’s a struggle for many Americans too. Childcare costs are expensive, seems a third of the paycheck goes to childcare, then living expenses, etc. stay strong and do what’s best for you.
Yeah, but China's problem has society pressures which is putting people like us from having kidss i.e., taking them abroad to study, raising up children is like competition (spending loads of money on extra curricular activities).
and imagine you were born into a generation where everyone including you is a single child, you have to shoulder all the responsibilities
The crazy thing about a one child policy is you have no uncles or aunts or cousins.
As someone born in the One-Child Policy era, we'd just call our cousins "brother" and "sister". I have no children of my own, but if I had children, they'd likely call my cousins and maybe close friends "aunt and uncle".
@@asdkotable If you are a single child and you parents are single children there is no way for you to have cousins. A cousin is the child of your parents sibling. No siblings means no cousins.
@@membear you do realize that the children born during the One Child Policy are mostly Millenials and Gen Z? The Millenial cohort will have cousins. I have cousins.
@@asdkotable that is what Chinese do no matter how many childrens people have ，Holy fk u r an idoit
@@jasonyang2288 ? he said it must be weird to not have aunts and uncles. I said that the One-Child generation's children will have aunts and uncles through their parents' cousins. Brush up on your English before you throw insults at people.
Telling young couples they can have 3 children is like telling them that they are allowed to buy 3 Lamborghini. lol
nah, Lamborghini dont require time and effort.
Just imagine that you need to carry the baby inside your body for 10 months, not to say 3 times.. for a woman. Even I am a adult man.
This makes no sense whatsoever
precise
What does that even mean haha
I’m living in China and it’s true that the workforce is getting highly skilled, you have to keep learning the latest and premium skills to qualify yourself, Neijuan is really exhausting and make me feel anxious sometimes, Chinese people are smart and rich that’s true, but every one still keeps pursuing higher
Welcome to life. It's the same everywhere
are you a congoless miner?
@@Corbots80
This is a very objective analysis of China's economy. Compared with the Western media, which often report negative news, this analysis is commendable and points out some of China's economic and social problems
Lol. If anything western media pumps China up when in reality their economy is probably only half the size of America's, has no chance of ever catching and probably never did.
9am-9pm 6 days a week? Yeah I wouldn't want to bring a child into that depressing world either. Let the people enjoy their lives.
@@jbently5303 nonono iis happening often in China
Thats like prison
So, now in China, all the graduates are crowded into the government department or K12 in the development cities as a teacher(many are graduated from Harvard and Cambridge PHD),because it doesn't have to work 996.
Right if you want large families one parent must stay at home. I have 5 siblings but that was only possible bc as my mom worked my dad raised us.
There's no way. Too much competition，It's the same in Asia
All over the world the cost of life is rising and wages are not, so this would be the new normal for many countries
Literally thinking the same thing. America has this same issue.
Exactly
@@ikeu6433 I wouldn’t hold my breath. That use to happen but there is lots of money in the system it just directed certain ways.
@@kamanijefferson638 no America and the west does not have the same issue. Birth rates are low in developed nations but in the west immigration offsets the decline in birth rates so the population continues to grow in America. Countries like China and Japan on the other hand have little to no immigration so they face this problem.
Less kids means shrinking working age population meanig economic decline
The eyes of the parents when asked If they would like to spend more time with their dotter 😢 there was pain there. I have a friend who have a 2 years old boy, and she had and still has issues with having to work and not giving him full attention, but she work 7 hours/day for 5 days a week, I can't imagine how those parents who work 12 hours feel
Japan : Cheers, I know that feels, mate
As a Chinese teenager, the problem of “Neijuan” is really bad. Us teenagers face so much pressure and we are constantly being forced into these endless and pointless competitions.
Agree
peace and love to you my dude x
I work in a primary school in China and it's there too. I've already seen a few of the kids I work with showing signs of cracking.
In a time when officials have dozens of mistress and tones of money notes and gold at home. CCP members really have the ability to boost the populations! So no worries!
Is there still any covid-19 there? Chinese only report limited number of covid cases.
Bringing a child to the world to be a labourer, consumer, and competitor sounds cruel.
Exactly. People are motivated by ideals (values) and dreams.
@@talmoskowitz5221 yeah, and the sooner we can create the technology to eliminate those titles from dominating our society more, the freer we will be
Is that not the ideology of the west
@@carmenlajoie2719 the ideology of the west has become the ideology of the east. Neoliberalist globalization has penetrated foreign markets.
I felt the same way years ago. I didn't have my first child until I was 31yrs old. I'm still happy I made the decision to have children though. The children have minds of their own, and if they are healthy I hope they will do well for themselves. I am not wishing them fame or mad wealth.
What they need is care programmes for elderly and children, reducing financial pressure of working population. As time will pass by, age graph will stabilize and they will be fine with less population.
Is this really even a China issue?
Isn’t this happening all over the world?
As a mother of one child in China ,I will never think about having more children!I am so exhausted and tired.
Most of my colleagues in China have two kids by now.
@@hotchi1566 as a physician,I have no time.
@@dianezhou4485 Most of my China colleagues have Ph.D degree in STEM, but most of them have two kids. If you want an excuse, you can always find one.
@@hotchi1566 It's not an excuse; if you don't WANT to have another child
@@kieraholmes3828 You can always find a 'reasonable' reason if you want.
Housing for middle class is beyond reach, and the government telling them to have more than 1 child? Isn't living their own life expensive enough, children are expensive. And there are tech people with that crazy 996? How can they even take of their children though? Having grandparents isn't the solution.
I tell you something much more crazier. People love the nation and party even lives like this! The people in China is every goverment dream of.
@@pandaofsam Not love, more like obey out of necessity, knowing the consequences of repercussion.
@@noeswantra2295 No, it is real love. That's what nationalism would do to you. For Chinese people, it's party = state = Chinese nation.
@@antonidas3812 Depending on their standing. You cannot generalize ppl. The more money they have, the more travel they did, the less they really care about those politics. Some fish live in shoals, some fish like shark are strong individuals and don't need to live in shoals. The former type likes everything, the latter type wouldn't care at all.
@@antonidas3812 ....it's not that simple. That (party = state = Chinese nation) is the IDEAL of what the Communist Party wants its people to be.
But is it the real situation with Chinese citizens? Absolutely not.
For you to believe the ppl have 100% fallen behind that party line means you actually have fallen and taken the bait of CPC's propaganda :) Because you equate the ideal scenario, and the actual situation on the field...
...Or are you actually part of CPC propaganda? ;)
Literally crying on the "...our daughter have separation anxiety..."
What is this obsession with economic growth? You cannot grow forever exponentially, as if the planet has infinite resources.
they hardly touched on one of the biggest aspects - 432: 2 parents are financially expected to take care of three children and four grandparents. can you imagine the strain of that? and in so much of China, they all live together, increasing the costs and challenge.
Living together actually reduces the cost due to economy of scale. You can buy food in bulk for cheaper price for example.
@@Jen-Yueh_Hu That's true, but then they will need larger living spaces. This will have a much bigger impact on the exact demographic they focused on - middle class urban groups. Imagine a 5-bedroom living situation in Shanghai vs. a 1 bedroom apartment.
@@Jen-Yueh_Hu take reconsidering on health care too, I can’t imagine how expansive for 4 old people medical expenses.
@@meanyboar7225 Bingo. Now, extrapolate this to a national scale on the level of hundreds of millions.
@@standardbrah you dont need 5 bedrooms tho. Many family just share one or two bedrooms that accommodate the entire family. One large house is rather cheaper than 2-3 small house I think.
How are you supposed to stay productive for 12 hours for 6 days a week? Especially as a web developer. My brain would melt.
In Europe businesses are realising it is not the QUANTITY of work that is important- but the QUALITY. Less hours equals more quality and profits for the boss.
@@tomthomassony8607 Unfortunately for wage workers (not salary workers) that comes with additional economic problems. Companies are happy to hire more people part time than full time, pay less, no benefits, and run them harder, reminding them that they are just easily replaceable cogs in the machine. They don't value workers, we're just aging light bulbs.
@@TrineDaely that's why employees need to understand their role. Get experience out of the company, then leave. If working part-time, have a few side hustles. Work should have never been a "life goal" - A "career" should never had bragging rights. An employee should find value in themselves not the work they do for a large corporation. I work in HR, hiring and firing is my job. I always told employees when they got laid off, to not take it personally. Because truly, it's about the companies ability to maintain its financial success, not make the employee happy. If employees understand this going in, then it won't matter how much a company manipulates lies saying that they care... when they don't. It gives the employee a thicker skin for when they do get laid off or fired.
That what chinese dont understand . If your working at something that requires thinking its better to step back somtimes and come back to figure it out
@@tomthomassony8607 not in all the Europe. Tell this to a boss in Eastern Europe or the Balkans. They think that working with your brain, is like working to a conveyor belt
Very interesting video. I'd have preferred the absence of the weird negative flash frame before a cut.
Most of the young couples decide to have less than 1 child is because of the financial stress. Finance is the biggest problem.
"I want to live in a world doing things the way I feel, rather than living in a world where other people are building the staircases and you just walk through it."
What if the way you feel will distract you from actual progression in life? And it all collapses on you.
^
Great 👍
I mean its worth pointing out that birth rates are lower/falling across pretty much all of the modern world
But the United States has a stably-increasing population of immigrants from all over the world, and China is the opposite.
but poses completly different challenges for different countries
@@gaaichia2238 not really immigration can also back fired. What happen if hispanic overtake white population amd the whites wants to take back their country then civil war will happen. Trump mostly white supporter and biden is mostly color supporter you see they fight each other. Same with europe the larger muslim pop want shariah law and europe will in trouble too
Sure, but they're not in the same economic stage, that's the issue, China still needs to become a rich country (i.e. consumption based)
@@gaaichia2238 China can get plenty of immigrants if they want. But covid is still a problem right now so they're been kept out intentionally.
Thank you for exploring this issue
Focus on economic and wealth growth being priority over quality of life seems to be the problem. The couple that wants to focus on quality of life got it right, I feel. China could import workers from other countries, as a way to deal with labour shortage, just like Japan is doing.
immigrants cost too many problems than solving the problems.
you seem to forgo the fact that china has the largest population on the planet.
adding more people into their already densely populated country would create more problem than solutions.
事实已经做了！
Better increase population
but salary in china is not that competitive, so china cannot afford the cost of importing workers. In our country, even we work 9am-9pm 6days a week, we only earn 8000 USD a year.
It sounds to me like The three child policy is only going to affect people with a lot of money and free time.
According to my experience, both the poor and the rich in China want to consider having a third child, the rich have the money and time to raise more, the poor don't spend much money on children so having an extra child doesn't affect their life. On the contrary, it is the general public between the rich and poor, especially the young people living in big cities, who will not consider having children because having an additional child will lower their current standard of living.
Having 1 kid is the norm, the rich wont spend money on kids, the rich have very low birth rates unlike the poor who usually have a higher birth rate, but in China culture money is the only thing to live for so not many would have more kids to spend on
Either ppl for who are so rich they don't care or ppl who are so poor they don't care
some poor family want a boy but get two girl may want to have the third. (that's bad)
这个小姐姐不错 和我生猴子吧
The same thing is happening in Italy too: as the young generations go to universities and then enter the work world at 25-28 years old these people (and I am one of them) just want to focus primarily on their careers, putting on alt the thoughts about family creation and thus having children...I think this trend is present in the most part of developed economies, as the number of scholarized people increases
The underlying trend is that it's increasingly difficult to reach the minimum development needed to make a net positive contribution and a paycheck. A century ago it was easy enough to not be able to read yet find work as a farmhand or stevedore; nowadays these same jobs require you to calculate and program the automated watering system, or plan the order and speed of safely moving containers by crane in different wind conditions.
This was true in Italy as far back as the late 1970s. (Vicenza)
What about the scenario you describe has changed in the past 40 years?
It makes the most sense to me. Adolescents CAN'T WAIT to enter adulthood, just to get a few measly years between study to turn your life upside down before you've fully matured or settled into your career?
Shrinking population happens in all developed economies. Japan got there first, Europe (especially Germany) is around the turning point, and the US has reached it too. Industrialisation happened at a record pace in China, so they will be a unique case as they see the demographics flip at a record pace too.
@@MuhammedChand That too.
Basically the more a country develops, the lower the birth rate becomes, and when a country industrialized, the death rate falls dramatically, and the population booms. You're seeing this right now in Africa, lower Asia, etc...
Immigration from less developed countries is the only realistic way of counteracting our falling birth rates.
I’ve heard the same thing happen in Japan too, the population is getting older. Maybe it’s because like in this vid, they’re so busy with their long hour jobs they might not have the time to think of caring for children and the housing prices are pricey (Sorry I’m not completely sure, I just read this in my 6th-grade book last year)
Edit: I finished the vid and I noticed that it’s similar to China, also I think the three-child policy would only apply to the ones who are already rich with a lot of free time because they won’t need to go to long job hours so they can take care of their children
if you dont want children then you dont want children more pressure wont help in fact its probably pressure that's put people off the idea in the first place it is disgusting for parents or family to expect you to give them children thats not your job and you do not have to please them
On a side note; whoever decided on the music in this video needs a medal.
To me, playing any musc with educational videos is like putting butter milk in one's morning coffee. It spoils the taste somewhat and distracts from the experience
@@rayndawg7181 I for one appreciate the higher arts.
@Collin R Me neither. It looks like somebody found a new instagram filter almost. It's childish at best.
@@rayndawg7181 i think you are in the minority on this one
@@mattaydlett8832 I've been in the minority for my entire life on most issues.
Neijuan is the translation of the English word involution. It's a process that individuals in the same group turn toward each other and compete for the most resources/best outcomes. For instance, when your colleges or class mates work longer hours, you have to work longer hours as well to stay in the same place in the game. Everybody loses.
what competition? US and west invent pretty much everything and china steals and copy. I see no competition or whatsoever.
@@smoochie3331 cringe. Please improve your reading comprehension.
@@williampan29 only if u can read english without wumoa translator.
@@smoochie3331just stop being so ignorant
@@smoochie3331 I am not a fan of China, but what you just said is simply ignorant
The Economist, thank you for your constant attention to China - thinking of and caring for the well-being of Chinese citizens more than UK citizens.
I mean we aren’t really having kids over here either….
When the government (anywhere in the world) fully fund safe housing, care & education of my future children I’ll reluctantly get one. Until then, the bloodline ends with me.
Wow
Exactly pple Will tell u to get one but won't help u raise them
The billionaires and the governments have had been squeezing time and money off the pockets of their people and yet governments want to have powerful nations. This shows nations’ powers come from people with freedom and high standards of living and not from slaves.
That's a bold statement
Probably for the best
When the workforce log long hours and only get paid enough to just make ends meet, not many think they can afford to have children.
How about going back to the time when women don't have to always be in the workforce. That'll surely ease up a bit of stress
It was like this always, but people used to have a lot of children
Also don’t have the energy for them.
exactly！ working in China is a nightmare. Chinese employers expect you to work as long as you are awake！！
@@dean_l33 that's not a solution in a patricharcal culture. Sadly in China, say if you are a stay home mom, your husband cheat on you and you want to divorce him. You will lose the custody right to the father because you have no finanical income period. But the dilemma of being a single mom is that in China its legal to ask a person's age and marrital status during job interview, so even harder for stay home mum to get a job and ever get her kid back. Actually that's probably the reality for all women in the majority of the world, except for a few countries with more protective law.
A very well-done piece. Great job!
Amazing Episode/clip/information! GREAT Work. Please make more.... THE ECONOMIST! (I wwovvve this show)
I think a lot of people want their own kid It's just the working condition and insane price makes them hesitate
This
Agree, you have to get creative and be thrifty!
And the 70k child abductions in China annually. That might be making them hesitant too.
@@carlosviajeseven one is a sad number. 🙏
True that
Yeah, young people just no want to have new babies, the traditional family scale is changing radically ,and we are more soloist now ,cause the cost is too high, that we may be no able to afford the life spouses need, so goes the price in house...
Decreasing the corporate income tax by the proportion of married and two-children employee will solve the population problem easily.
@@user-zz4cq9yw1h what? how a tax benefit for an employer give an incentive to the employee to have more kids? besides the fact that that is clear discrimination.
@@user-zz4cq9yw1h bad idea
Interestingly, it seems a lot of western societies are running into the same condition. Though, we tend to temporarily solve this issue through immigration
@@_Pyroon_ Cannot see that working for China, would be to difficult for a foreigner to fit in . They need to change the government .
Most important key function methods are the balance of Economic challenging. In fact Chinese people wouldn’t border of depart to someone else along the time.
11:56 The use of the word “內卷” is wrong. It is actually a western academic term,which is called involution. The term is brought up by a Western scholar to describe why the agriculture in east Asia has been suspended even thought it has a very long history in agriculture.
Then a Chinese scholar called 項飆 ,who is a professor at Oxford university,use the term to describe the circumstances of what she just interpreted.
Success of a nation shouldn't be judged by its economy but rather how well the people are being taken care of (which is not the case at all with China)
@Barchiel Z it's a political fact that the whole world is aware of..its not like the Chinese government will speak out for it's own oppressed let alone the Ughuires that they are actively destroying so its up to us people who believe in justice to speak up
@UCnZ8jNgXL-_PxVD6Q7kJwBw what a dumb take
economy takes care of people that is where money comes from
@@TruthAlwaysWins786 free north east india.
@Barchiel Z anyone can criticize nation
It's almost as if the post-WWII population boom created an unsustainable pyramid scheme that would ultimately fail. At least in the US, younger generations just want to live a equal quality of life their parents or grandparents lived and having (expensive) children would prevent that from happening. High cost of living, childcare and housing greatly impact birth rates.
Reject the pyramid scheme, return to monke
But the US can just increase immigration so they don’t need to worry about the low fertility rate
So true.. people my age (40's), without children, are much better off in almost every way..
@@hollybug-76542 well I respect your choice I hope you are happy I would probably have kids because I like them and I have immigrants parent
I think in the world overall, we need to talk about how to deal with a declining population in a healthy and controlled way.
This is surprisedly objective. Thank you for having more confidence than I could have.
The stock footage’s timeline is terribly mixed, it’s like having flashbacks to the 90s during this whole time.
A big change of one child policy is that women, especially in cities, have gained huge independence and confidence. Many will not choose to be stay-home moms! They will get back to their careers quickly after giving birth. One child is already enough! Having two equals to sacrificing herself to the family.
Yes. Women as an only child don’t have to sacrifice for their brothers any longer.
most families cannot afford not having double-income sources anymore.
Who will provide for that woman's parents if she doesn't work? Becoming a stay at home mother is not an option for most woman around the world because of financial reasons.
Why spend all of your time raising a family, when instead you can spend all of your time saving to buy an overpriced tofu home.
@@matthewmcdonald1301 or how about you don't raise a family or buy a overpriced tofu home and just enjoy your life , travelling, eating and experiencing?👍
sometime I feel developed countries like china put more strain and stress on their people than any poor country would have do. So what is point of such development when your people can not enjoy life and always searching for more money ;(
It's an strange comment from someone whose profile pic is a luxurious car.
Much more to third world countries
@@jbently5303 of course you dont have to be a US-Level per capita, they have the same as singapore! China is developing whilst US is developed.
@@UnstoppableEmpire i don't think so, last time i heard it was roughly 300usd per month for their average income. Sg is definitely way higher than that
@@alejandroruiz2439 Many people dream of luxury but few people dream of the cost to get to this moment. I say, let them dream. The world is hard enough already.
Education and birth control are key to reducing poverty and hunger.
Having a child that you can not provide for yourself are cruel and irresponsible.
Quality of life should be the focus not quantity of life.
So true
Thanks Economist! I barely watch any biased western media, but you did point out the issues that I think need to be addressed asap in China!
Doing a PhD won't give you more free time to do things you want to do. lol
I think the PhD is what you want to do. If that is not the case, I would not do it. :D
Absolutely true!!!
What if she just doesn’t want to work
Anybody who has done PhD knows that it doesn't give you free time until you want to produce PhDs whose place belongs to the trash bin....
Chinese universities are much easier than ones elsewhere.Before University, it is grueling though.
Who would want to bring their child into a hellhole they are living themselves?
Exactly. I can't afford to buy property where I live while our parents generation could buy property on minimum wage jobs. If I had kids I would have nothing to pass down to them except whatever money I had in the bank.
this
That explains it perfectly.
9-9-6 ?? this is not living a life.
*This.*
996 is more or less like a generally accepted culture in China or even in a lot of Asian countries. It would be hard to change because there is nothing explicit that is written in the employment contract or rule books. It is more of an action based on observations of others’ behavior.
I don't think the pressure is different elsewhere.
Why do any counties aim for “world economic dominance”. We need a wellbeing and sharing world!
so the rich can obviously get richer. We can see countries like the Scandinavian ones not being one of the top GDP countries, but people still living happy and productive lives.
@@GameFuMaster You see this throughout nearly all of the EU, not just Scandinavia.
agree. it is pointless to have economic dominance without having people's well-being improved
does people think big economy means big power?
if that so, then this is not what economics is. Economics is the distribution, supplying and allocating the resources.
Big economy is only the calculations of the total of personal consumption, investment, government spending, and trade. And this does not make people happy
A perfect economy, where an entity has all the resources for their needs and wants, and the balance between the supplies and desires are equilibrium. And this what makes people happy.
unfortunately, that's the game ruled by adult.
As a 4-year child Shanghai mom, I really want to see current situation improved better for child growth
Giving love to your family in Shanghai. From London, England.
Wait chinese do use youtube?
@@namhuynguyen235 Sure. VPN is popular here
@@namhuynguyen235 why can't use ? lots of youtube users here.
@@billluo504 it is illegal to use CZcams in china, you could be arrested for doing it. that's why people have to use VPN to access youtube.
What is the backgound music, like from horror movie?
选择是自己的，不是别人的。
China then: you can only have one child!
China now: you can have two children!
China later: you can have three children!
Future China: you MUST have two children!
No they must have 4 ..... Because china population is already depreciating
just have childcare subsidized
@@sinoroman yet make who pay for it?
996 will lead to 4 children policy.
This is exactly what will happen
if you're working long hours and you can't even afford to have your own home-office in your condo/apartment, then why would you even bring another life into a miserable tiny home. like most developed nations, children aren't just enjoy of life, they're also a financial asset that may not payout yet requires time & effort in addition to your monthly payment.
The children would have no
future anyways, talking of
the environmental
problems . . . ❌🌲❌🌳🌋
Just for visual, the inverse color effect kind of an eye sore to me. I think it have something to do with the sudden change of lighting.
50 million empty houses and dramatic aging speed. Real estate market is collapsing fast.
You buried the lead here, guys. The young couple has a Corgi! ;)
Yeah, any policy on impact will only allow these couples to have a new puppy, anyway they will not raise a children instead of having a new iphone or android
You taught them to only have 1 children for decades it's become cultural now, and now you want them to change this? Isn't this equal to change your own culture? You need multiple decades to untangle your own mess bruh...
No, no. I don't think it's about legislation. Actually a lot of people are wanting to have more kids. However, it's mainly about the financial position of each parent. And how this Western Ideology of working to like this "996" operation. And that's what's limiting China's boom.
It's not about the one child policy. It's the amount of effort needed to raise a kid. Feeding kids are easy but now days Chinese parents want to give their kids the best in everything.
I saw an interview on another channel with a young Chinese woman who stated she felt she would not be able to rely on her mother or others in her family to know how to help her if she had multiple children because they only knew how to manage a family with one child.
That doesnt make sense. Believe me she just dont want to have anymore kids so she can still enjoy her life.
@@hizorai4355 996 is definitely not western. The US is the hardest working developed country, and 9to5 is standard there. I think 996 is unique to China/ east Asia
我是会英语，但打着麻烦。
虽然说经济学人什么的经常有一些戴着有色眼镜的中国报道。不过像这样的事情，我还是觉得应该有外媒的存在，中央政府不应该彻彻底底的把发言权全占着，没有人监督真的是很可怕的。
节目做的很客观
I think this speaks volumes about why many nations around the world are also seeing a decline in wanting to have children. These societies (mine include) don't do enough to foster families in having children.
Now we have another word ‘tangping’,which is used to against 'neijuan'.No child,and no passion in working.Paying more attention in your interests.
As you should! I hope China can have more cultural exports, like music, film and games, not only technology
technology definitely the most important thing
@@JuanPablo-lt3usI hope so. But China is weak in games or films etc
@@qiaofengchen3356 But in the future, apparently technology will become a destroyer to our culture society. It makes people more distant and even no humanity at all. Hope China can avoid that unfortunate perspective.
@@ucnguyenminh3250 I disagree. It's technology that will be able to save the world from all these problems and allow people to have the time to evolve or create culture.
If you're working to death each day, the world is becoming worse due to exploitation and greed of a few, what culture is that?
if china doesn't want to make things worse, they really need to start helping out the population they demand so much from
A solution always comes with a problem in one way or the other to be solved and so the chain of solutions and problems continues.
I like how The Economist tries to paint the situation as not so bad. China has automation, a growing educated population, and still some years of high productivity. It’s not a crisis. Also, read all the above in a very sarcastic tone.
China created a situation where the cultural norm is to have 1 child and even if you want more the economic cost is rough at best for most people. They have created a no win scenario where they need more working age people in the next decades to stop an economic crisis, but where creating enough of these people will cause an economic crisis.
Yes, i actually worried about automation and AI rather than population decline, they will take most lf our job in the future
My worry is the opposite. I don’t think automation and things like it are at a point in China or the rest of the world where they can make up for the population deficit. Plus, a long lasting economic crisis will make it harder to innovate.
But I share you’re worry. In a consumer economy service jobs take up more and more of the employment. What happens when robots and AI drivers and kiosks force people out of these service jobs? Where do they go? And if we succeed in creating a post scarcity world where robots make everything and transport it to the people what will that do to the human race?
@@user-gc1hg9sp9k dude just read history, everything today is pretty much a little spin from the history. there were countless people like you who worried about steam engines, trains, cars, planes, pc, internet would take their jobs away. there simply will be more jobs CREATED.
@@HFrevive It's not a natural law though , it's a observation which can change over time , like Moore's law . Where are the jobs horses lost when cars and engines become mainstream ? There are a lot less horses in the world now than in 1900. Same can happen with humans , we adapt more than horses but there are limits and we are competing with a form of inteligence not simply with machines .
@@ketelin4285 then only the fit will survive, sadly. but based on the track record, there will simply be more jobs
If young folks can’t even enjoy their daily routine lives what’s the point bring new life into their busy and exhausted lives ??
9 to 9 work is no joke I was working at store like that for 5 years and believe me it’s not fun at all
It was painful and exhausting but guess what I need it for my own survival lol
The sparrows must be laughing from sparrow heaven 😏.
"BUT there are some signs of change" is the most disappointing sentence in this video
The 996 is a 72 hour work week…
yup
Minus lunch time and dinner time then it's 60 hours of work a week.
@@Fuzzy.Wuzzy45 Lunch and dinner time? What's that?
@@koper1984what do you mean "what's that"?
It's common sense to eat food at the designated time.
Edited: okay I get it you guys have serious work code problems.
that's truly insane, most people would have burnout issues after working around 40 hours per week
Wait a minute? Isn't that the same problem all developed western country are facing??
Yes.
Yes, but the China bump in demographics is even more unbalanced.
India is the largest nation with theoretically great demographics for the next few decades. If you Google population pyramid you can see the future.
Also worth noting that retirement age in China is 60 for men, 55 for women, that's a big chunk of Chinese citizens that will soon be retiring.
Not too this extent. The sudden demographic drop within a short period of time is unparalleled.
Yes, but they're already developed countries with healthy welfare systems, China is still a developing country, and that's a serious problem.
@@alfredlear4141 I don't really care about India's population boom. They are just postponing the same "problem" China is facing now. As a country reach the develop status young people tend to have less children. India will get to that point eventually in the 2070's...
A country can't simply be growing forever. Over population can actually be the trigger of the extinction of the Humankind!
Thank you for this interesting video
Imagine not having cousins or aunts or uncles? If everyone had 1 child, there is no family extensions. No real branches or support. Its so crazy to me.
When people are working so much, where is the bedroom time?
At night, like most bedroom times
most US executives/consultant jobs work long hours too.
Well if you work with your spouse, I'd say lunchtime is the best time.
Be a morning person 😉
bedroom action is not the problem, it's the 18 years of extra chores that are the problem
When you value money more than humanity.
Like the US healthcare system and allowing pharmaceuticals charging $1000 for a insulin shot?
Or your war on Iraq for "freedom"
High quality
No need to have many kids just to watch them struggle in crazy economic situations
One of the best reasons against having kids is money. Agrarian communities don’t have to worry about the cost of raising a kid, since a kid only costs as much as they eat. In the transitioning stage between an undeveloped and a developed economy, a kid still pulls their own weight, but also helps provide enough value to share with society. Once an economy becomes developed, a kid basically stops contributing to their own nourishment. They become a drain. This is fine if the parents can pick up the slack, but it means that the value provided by two parents has to be split up amongst themselves, plus any kids they may have. Wealthier families tend to worry more about quality of life, and have fewer kids so that everyone’s quality of life is maximized, especially he quality of life of their kids. Poorer families already have a low quality of life, so the kids already know they’ll have to make their own way in life.
There are many reasons to have kids. There are many reasons to forgo having kids. But poorer people tend to have more kids because there aren’t a lot of reasons to forgo having kids. The quality-of-life argument isn’t much of a concern for them. For wealthier people, it is a huge concern because they have the luxury to be concerned about it.
interesting statement... surprised by the fact that no one is leaving a reply here
While it is beneficial to forgo kids, who will look after them adults when they grow old and incapable to look after them? Even in nursing homes, they'll be understaffed. China's situation is a catch-22 I think.
You're wrong, India is an agrarian country and has massive poverty in the farming states, farmers' kids are malnutritioned and stunted in South Asia
👍
@@user-bp2fo4be6p I think human psychology comes to work in here: parents may not realize it, but they have a mindset of "environments is harsh and it's likely children may die; let's have a lot of them so at least one/two survives'.
This could be the best western document on China I have ever seen. They finally talk about an actual problem that exists.
True
No, its' talking about a problem that you are willing to acknowledge because it directly affects you
I am also just recognizing views that fit mine. Everything else is a lie or wrong.
Oh, so the reports on the draconian surveillance social credit system, the genocide of uyghurs, the lack of freedom of speech, the crackdown on Hong Kong's democracy, the debt traps on developing nations, the massive overfishing and provokings on the border of countries waters, the hostile actions in the sea of Japan and the South China sea, the voiced planning of invading Taiwan and many more atrocities are not quite of your interest?
To be honest, The Economist has no credit on China report. I have searched /checked their China reports in the recent 30 years, all of these China reports have some keywords such as problem, risk, collapse, weakness, danger, etc.. I have never found any China report from the Economist with a positive or bright conclusion and prediction. The Economist is still a typical west media.
Clean up the captions. Many have HTML code in them that don’t display properly like italics or colour.
Someone explain please what's the rush of being the most powerful economy in the world, and why is better the urbanisation above labor in the fields. We all have to eat, drink clean water, and breathe, for me that's the priority in investing on the future. I don't understand.
The Economist is more optimistic about China's economy than many Chinese are.
You don’t stand for everyone...
@@yuxi9042 I never claimed to stand for everyone. I just said many Chinese, not everyone, not even most Chinese.
Most old Chinese I know are VERY optimistic
@@JuanPablo-lt3us That's because they'll be gone before it becomes obvious that China peaked. Which it risks doing in the next few decades due to not only aging but also pollution, household debt, and rising economic developments among its competitors further south and southwest.
well china has come to the stage that they dont have to worry for next 20 years people are rich af
I like how it glosses over how big of a problem that the growing elder will eat whatever is left of the pension. Time and time again, one of the best safeguards is to have foreigners working in your country, and paying taxes, automation, and skilled workforce isn't going to cause a dent from the man-made 1 child policy problem. China might become the biggest middle-income trap country
whats the the middle-income trap??
The whole west has the pension/health problem.
middle-income trap is false proposition for China，this countrry‘s economy is so divisive that some provinces have reached the standard of developed region while others struggle their lives.Their biggest problem is inequality .
@@Cassp0nk The US have pension/health problems.
Educated Immigrants didn't use our tax money when their mother get into labor in the hospital. They didn't use our tax money for their public school, they didn't use our tax money for their higher education.
These immigrants use their own country resources and then bring the free benefits to our country.
@@wbek3502 That's what we called middle income countries. Rich in some areas, but poor in others. Their GDP per capita and their purchasing power are low in the global market.
There would be ultra rich people in middle income countries, but we determine their overall performance by averaging the majority of the population instead.
please tell me where is no neijuan?
Thank goodness
I live in Beijing and I'd say this report is both accurate and objective. Well done and thank you.
Kids cost money. Too much money. Money and time. Nah. I don’t want kids either. As of right now, I may adopt a preteen in my late 40s. We’ll see.
I have two kids and currently pregnant.. living off one income, but we are financially doing well .. living a simple life is the key.
I would rather not materialize humans as if they were only resources. Life costs money, that has been always the case. Of course having children is a huge sacrifice but the accepting the Being comes with sacrifice too. I see many people to wait for the right moment to have a baby before having a baby but it can be very deceitful because there will be always something to aim for. Problem is that you can't really control biology and aging, it will not wait for us and ask "Do you have everything you need? Can we go to the next stage, please?"
Yes, having children means you will be sacrificing some pleasures. My husband and I would travel and we had boats, for a few years in the early 2000's we even paid to dock our yacht in a different state.Then we started a family. Things changed, fuel prices increased, the housing bubble burst. In terms of a couple and decision making....children are a risk factor. Disagreeing on how to raise a child is also an issue. We also started our family later in life. My father never met my children and my mother was so unhealthy she could barely hold them while sitting! So I think it is better to have children in your 20's and that is when these young ppl are still starting a career!
Even if my country made a tax for childfree people, I would at most adopt a 16 year old))) anyone younger is unacceptable
I just wanna be Alone.
I don't even wanna get Married, lol.
Yep
How much pressure is it to keep the world's most fervent and industrious people from having children? The most pitiful group of people are now 70 years old. They not only had a hard time when they were young, but also had the responsibility of raising children when they were old
Something I’ll never understand about mainstream economists is their insistence to conflate productivity with “making money.”
Yes.
Anyways let's talk about the true
problem : the overpopulation
on this planet . 🌏
@@ritahorvath8207 is it?
What do you really get in the end of the rat race ? All your time spend helping others earn big money while you earn peanuts, for what ?
The peanuts are our only hope to live respectfully sadly.
In a booming economy, economic bubbles are inevitable. We should then eliminate some by market segmentation.
My goodness! Dropping out to work on a Ph.D. Is less stressful?