China is working on a new strategy to compete with India and America in future. This is revealed by a working paper of the People’s Bank of China (PBOC). Working paper states that China should increase its population rate to compete with both countries.
The central bank report says that China (China) needs to deal with the problems of its growing aging population. China should remove all types of birth restrictions to compete economically with young India and to match the immigration friendly US (US). Working paper states that China’s population problem is worse than other countries.
The working paper mainly focuses on how China should deal with the problem of its growing population. Compared to the situation in India and America in this paper prepared by four researchers, there is a radical suggestion that the government should allow three or more children to be born. Significantly, China’s birth rate has been falling for the last several years. That is why the government simplified the One-Child Policy from the late 1970s to 2016, which allowed the couple to have two children.
However, there was no use of relaxing the policy. According to the National Bureau of Statistics, the birth rate on the Chinese mainland fell to 10.48 per 1,000 people in 2019, the lowest in seven decades. The report stated, “To achieve the Long Term Target in 2035, China must fully liberalize and encourage pregnancy, and overcome the difficulties faced by women during pregnancy, pregnancy and kindergarten, and school registration.” should do.”
In the report about India, it has been said that the gap between the two countries is narrowing. The report states that China’s economic growth has been faster than India’s, but in recent years, with India’s late gains, China’s demographic dividend is over, India’s economic growth approaches China Has moved towards