China’s birth rate has hit a historic low – deepening fears of a major economic shock in the decades to come as the country’s massive labor force dwindles and its population of pension-drawing retirees swells. A flurry of policies from Chinese authorities to spur procreation – from cash handouts and tax breaks to new rules making marriage easier – has so far failed to stop the downward slide, data released last month shows.
But the country is also eyeing another potential fix: robots and automation.
Chinese leader Xi Jinping has for years overseen a push to upgrade and automate the country’s manufacturing sector, part of Beijing’s goal to transform China into a self-sufficient high-tech powerhouse.
