Abstract
Like many developed countries in the world, China currently faces many serious demographic challenges that pose a potential risk to the country’s socio-economic development and stability. The current demographic development and trend is characterized by a change in the reproductive behavior of the population, characterized by a decline in birth rates, a change in family behavior, and a shift in the value system. This paper is aimed at identifying the impact of population policy and the degree of its influence on both the economic and social system of the country. Based on a deterministic approach, the findings reveal and demonstrate the serious demographic challenges facing China, and we are noting that there is no guarantee that parametric adjustments, such as shifting the retirement age, will de facto ensure the financial health of the pension system by preventing bankruptcy. We point out the risks and prospects for the sustainability of China’s socio-economic development based on an analysis of past and current Chinese demographic policy.
Highlights
“experiment” in the application of political decisions and tools to the functioning of society as a whole. The consequences of such a policy can be largely politically distorted by the decision of political elites to knowingly or unknowingly modify the facts
China may face the problem of a low fertility trap, where the prevailing low fertility level causes a further decline in fertility
The importance of demographic processes for the development of society is growing, which results in their broad-spectrum operation in individual countries
Summary
Like many developed countries in the world, China currently faces many serious demographic challenges that pose a potential risk to the country’s socio-economic development and stability. Population growth is related to ensuring its very physical existence, in many regions especially to the problem of providing basic living needs [8,9,10,11], at the same time to emerging issues related to sustainability of other societal domains such as climate change, demographic pressures and global sustainability, food waste, and the need to develop policy strategies for its optimization [12,13,14]. From a demographic point of view, China is currently facing two trends in the context of historical development: firstly, life expectancy in China has improved significantly over the last few decades and moved closer to developed countries [7,15,16], and secondly, China’s fertility rate has changed even more dramatically [17,18,19].
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