China's Population Declines for Third Year

China's population has declined for the third consecutive year, decreasing by 1.39 million to 1.408 billion in 2024, raising alarms about demographic challenges amid a rapidly aging population. The decline is attributed to persistently low birth rates, societal shifts prioritizing education and careers, and high costs associated with childcare and eldercare. Similar trends are evident in East Asia, with Japan and South Korea also facing falling birth rates and aging populations. Despite government efforts to incentivize childbirth, including educational reforms and resource allocation, challenges such as economic pressures and gender norms continue to impede progress. Experts warn that the long-term implications could strain economic resources, particularly as the working-age population dwindles, exacerbating eldercare costs and pressure on pension systems. As countries globally grapple with population decline, the situation in China is becoming increasingly critical for its economic future.