China’s population falls for a third consecutive year

The alarming decline in China’s population has sparked widespread concern, with the country’s population falling for the third consecutive year. This trend is not only a demographic crisis but also a looming economic disaster that will have far-reaching consequences for the global economy.

The National Bureau of Statistics said on Friday, January 17, the total number of people in China dropped by 1.39 million to 1.408 billion in 2024, compared to 1.409 billion in 2023, a stark reminder that the country’s one-child policy, implemented in 1979 to 2016, has devastated its demographics. The number of deaths dropped from 11.1 million in 2023 to 10.93 million in 2024, outpacing a slight increase in births, from 9.02 million in 2023 to 9.54 million in 2024.

Experts warn that this trend will likely worsen in the coming years. The consequences of this decline will be felt across the globe, from strained supply chains to reduced consumer spending.

While spending on the military and flashy infrastructure projects continues to rise, China’s already frail social security system is teetering, with increasing numbers of Chinese refusing to pay into the underfunded pension system as the state-run Chinese Academy of Sciences warns the pension system will run out of funds by 2035.

More than one-fifth of the population is aged 60 or over, with the official figure as 310.3 million or 22% of the total population. By 2035, this number is forecast to exceed 30%, sparking discussion of changes to the official retirement age, one of the world’s lowest.

The Chinese government’s attempts to encourage families to have more children have been met with limited success. The rising costs of living, education, and healthcare have made it increasingly difficult for young couples to afford multiple children.

Meanwhile, urbanization has also increased, with the number of people living in cities rising by 10.83 million to 943.3 million. The rural population, meanwhile, declined to 464.78 million, according to the

The National Bureau of Statistics.

China’s population crisis is a ticking time bomb that threatens to upend the global economy. The world must take immediate action to address this issue or risk facing a catastrophic crisis that will have far-reaching consequences for generations. The world cannot afford to ignore this crisis; it’s time for policymakers to take a proactive approach to addressing the demographic challenges that lie ahead.