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All is not well in China, which boasts of progress in the world. The economy of the neighboring country has derailed. The reason for this is neither the birth of children nor marriage. In fact, China faced a record decline in marriage registrations in the year 2022. Apart from this, the population of China has also declined. China's population will decline by 2 million people in 2023. This happened for the second consecutive year.
China's Victor Li wants to get married soon, but like other young people, he is convinced that he will not be able to do so because it has become too expensive. He said that it is very expensive for us to get married, especially in a big city like Shanghai. China is the second largest economy in the world, but now its pace is slowing down. The youth here are unemployed. Can't find a job. How will the expenses be covered? Because of this fear they are not getting married. They believe that living alone is a better option for them. There has been a decline in marriage registrations due to youth being disillusioned with marriage.
Chinese government in tension
If the youth are not getting married then the government is in tension because there has been a huge decline in the birth rate in the country. China was once the most populous country in the world, but today it is struggling with population decline. Last year, President Xi Jinping said that it is necessary to actively develop a new culture of marriage and child-rearing to promote national development. Local governments have also announced various measures to encourage new families. This includes tax exemption, subsidy on new house as well as cash prize for marriage if the bride is 25 years of age or less.
The decline in the birth rate reflects a long-running economic and social challenge for China. The number of elderly people in China is increasing, which could slow economic growth over time and challenge the country's ability to provide for the large elderly population with fewer workers.
China once tried to control population growth with its one child policy, but now the situation has become completely opposite. Jinping's country is facing problems today. The government had officially announced the end of this policy in 2016. This was done to increase the birth rate but has achieved very little success.
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