Do you want some proof that government control of an economy and a society never works in the long run? If the Soviet Union’s experience was not enough, how about China?
But China is a powerhouse, you say. China will rule the world. The twenty-first century will be the Chinese century, right?
Not so fast. The Chinese government’s control of its population growth is about to come back and bite it big time.
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According to Zero Hedge:
China’s economy is slowing, and the debate is raging over whether the country is headed for an abrupt hard landing or whether the slowdown will stabilize into a soft landing that may already be underway. However it plays out, Schwab’s Jeff Kleintop notes, one thing is clear: A return to the double-digit growth rates of years past seems unlikely. Demographics are destiny.. and China faces two unstoppable trajectories.
China’s demographic problem has been exacerbated by the country’s “one-child” policy—a system introduced in the late 1970s that prohibits many couples from having more than one child. Although the policy has recently been relaxed slightly, according to the Chinese agency charged with population planning, the one-child policy has prevented more than 400 million births since 1979.
I think the charts speak for themselves.
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