Source: This post is based on the article “Will Dragon Babies” Fix China’s Population Crisis? What Experts Say” published in “NDTV WORLD” on 19th January.
Why in the news?
Financial Times has recently released a report on population decline of China.
What are “Dragon Babies”?
In Chinese astrology, babies born in the year of the dragon are considered to be especially fortunate and lucky. They are called dragon babies. The eagerly awaited year will officially begin on February 10. There is a higher hope that more births will be recorded during this time rather than in any other year in 12-year Chinese calendrical cycle.
Background
Gloomy economic outlook, ageing society and the coronavirus pandemic pushed China’s population to a decline for second consecutive year in 2023.
What is the current status of China’s population rate?
- The national death rate is accelerating, reaching 7.87 per 1,000 people in 2023, the highest level since the early 1970s.
- The population decline has more than doubled from the previous year.
What is the ramification of this trend?
- An aging population would demand more expenditure on health.
- There would be a decline in economic growth
However, experts doubt if such superstitions about dragon year will improve the situation in China. Due to the high cost of living and fierce competition, couples are not willing to have children.
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