China’s Population Drops for First Time Since 1961

China’s population fell last year for the first time in six decades, a historic turn that is expected to mark the start of a long period of decline in its citizen numbers with profound implications for its economy and the world.

The drop, the worst since 1961, the last year of China’s Great Famine, also lends weight to predictions that India will become the world’s most populous nation this year.

China’s population declined by roughly 850,000 to 1.41175 billion at the end of 2022, the country’s National Bureau of Statistics said.

Long-term, U.N. experts see China’s population shrinking by 109 million by 2050, more than triple the decline of their previous forecast in 2019.

“That’s caused domestic demographers to lament that China will get old before it gets rich,” slowing the economy as revenues drop and government debt increases due to soaring health and welfare costs.

“China’s demographic and economic outlook is much bleaker than expected. China will have to adjust its social, economic, defense and foreign policies,” said demographer Yi Fuxian.

He added that the country’s shrinking labour force and downturn in manufacturing heft would further ‘exacerbate’ high prices and high inflation in the United States and Europe.

Kang Yi, head of the national statistics bureau, told reporters that people should not worry about the decline in population as “overall labour supply still exceeds Demand.”

Reuters /Shakirat Sadiq