Thursday, 29 October 2015

China drops the one child policy to stimulate future growth

The China Communist Party announced today the end of a policy put in place in 1979 to restrict the amount of children a family could have, increasing it from one to two as the "Sleeping Giant" battles an aging crisis that could have severe economic consequences in the future.

The policy was put in place 36 years ago when resources in the communistic state was scarce and the government at the time attempted to control population. Fast forward almost four decades and the intended effect has worked it's way through so much so that we're starting to see negative traits appearing.

Because the limitation has restricted the number of newborns it has resulted in an aging nation, however as the population grows older so does the need to look after these people something that requires a decent pool of tax paying money. The shrinkage has resulted in a decreasing population among people between the ages of 15-64 and increase in persons over 65.
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