A falling birth rate means a shrinking, aging population. This results in fewer workers supporting more retirees—which drags on growth, strains pensions and health care, and hampers long-term innovation and fiscal stability. China's population decline is precipitous, as U.N. data shows.
For decades, China’s population story was one of rapid expansion. Even into the 2000s, the country was still adding millions of people a year—a demographic tail wind that helped power breakneck economic growth.
