Context:
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China had strict One Child Policy till 2016.
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China introduced a “two-child policy” in 2016, but the wide consensus is that it failed to have the desired impact. Financial pressure is considered one main reason.
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China will for the first time allow couples to have a third child.
Details:
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It is a measure to actively address the ageing of the population.
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It comes in the backdrop of the release of China’s once-in-a-decade population census that pointed to an alarming decline in births.
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According to the census, the age group of 60 and over constitute 18.70% of the population.
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Those in the 15-59 age group were down by 6.79% since 2010 and accounting for 63.35% of the population.
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China’s workforce in the 15-59 age bracket peaked at 925 million in 2011.
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That number was down to 894 million in this census and would drop to 700 million by 2050.
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Forecasts say the population in China could peak in the next couple of years and most likely by 2025, when India will become the world’s most populous country.
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