People’s bank of china report on India’s demographic advantage
The Central Bank of China, that is, the People’s bank of China recently released a report on Demographics.
Report on Demographics of China
- According to the report, the strict birth policies of China has led to the problem of dwindling work force and the problem of ageing population. Dwindling means gradually diminishing.
- The report also said that Chinese Government should liberalise birth policies to tackle the problems of ageing population.
- China is to experience a negative growth after 2025.
- After 2025, China will face shortage in consumer demand.
- The working population of China has been declining since 2010. This has largely affected the supply side of the Chinese economy. This is to hit China very badly as the Chinese Government has planned to drive its growth through domestic consumption.
Report on Demographics of India
- The report said that the gap between India and China has been narrowing. On one hand, the economic growth of China has been faster than India’s. On the other hand, the demographic dividend of China is fading. Above all, the economic growth of India is fast approaching towards China.
- The declining birth rate and ageing population of China will become more serious in ten years. On the other side, India’s demographic structure will be much optimised in ten years.
- India’s labour force will exceed China’s by hundreds of millions.
- By 2050, the demographics of India will have much wider workforce and narrower elderly population. This will help India to grow in a faster rate.
Report about the US
- According to the report, the United States mainly benefits from immigration.