Beijing has announced the nation’s GDP increased by 3.0% in 2022. This is just a far cry from the official target of 5.5%, according to the World Bank.
We have here another country that decapitated its economy with the “zero Covid scheme.
The bigger problem for China is its declining population.
Last year China recorded a population DECLINE of 850,000 to 1.41 billion people, and this year it seems likely that India became the most populous nation.
It’s hard to be the world’s economic superpower – as China hopes to be someday – when the population is shrinking. A lot of this is due to several decades of the Chinese brutal one-child policy. This has created an upside-down population pyramid.
Gordon Chang, a noted China analyst, reports that the country “this century is on track to experience history’s most dramatic demographic collapse in the absence of war or disease….Today, the country has a population more than four times larger than America’s. By 2100, the U.S. will probably have more people than China.”