{"id":115550,"date":"2021-06-01T06:40:11","date_gmt":"2021-06-01T06:40:11","guid":{"rendered":"https:\/\/fin2me.com\/?p=115550"},"modified":"2021-06-01T06:40:11","modified_gmt":"2021-06-01T06:40:11","slug":"china-wants-couples-to-have-more-kids-chinese-people-are-less-enthusiastic","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/china-wants-couples-to-have-more-kids-chinese-people-are-less-enthusiastic\/","title":{"rendered":"China wants couples to have more kids. Chinese people are less enthusiastic."},"content":{"rendered":"<ul>\n<li>China&#x27;s announcement Monday that couples can have three children generated a buzz of online discussion on why it isn&#x27;t practical to have children, let alone three.<\/li>\n<li>High education costs and insufficient support for maternity leave and retirement have contributed to a growing reluctance to have children. <\/li>\n<li>Changes such as improving access to childcare &quot;are much more important than simply removing the numerical limit on the number of kids you can have,&quot; said Rory Green, senior China economist at TS Lombard.<\/li>\n<\/ul>\n<p>BEIJING \u2014 For many Chinese people, government restrictions have long ceased to be their main reason for not having more children.<\/p>\n<p>That poses a greater challenge for Chinese authorities when trying to limit the negative effects on the economy from a decades-old policy restricting households to one child.<\/p>\n<p>The central government announced Monday that each couple could now have three children, generating a buzz of online discussion \u2014 primarily on why it isn&#x27;t practical to have children, let alone three, in modern China.<\/p>\n<p>More than 30,000 respondents to a simple online poll from state news agency Xinhua overwhelmingly said they weren&#x27;t considering having more children as a result of the new policy. The poll was soon deleted.<\/p>\n<p>High education costs and insufficient support for maternity leave and retirement have contributed to a growing reluctance to have children. Loosening the restrictions to two children per couple in the last few years has done little to stall a drop in births, and keep a population of 1.4 billion people from aging rapidly.<\/p>\n<p>The new policy is &quot;completely inadequate to reverse the demographic decline,&quot; Rory Green, senior China economist at TS Lombard, said Tuesday on CNBC&#x27;s &quot;Street Signs Asia.&quot; He said structural changes, such as improving access to childcare, &quot;are much more important than simply removing the numerical limit on the number of kids you can have.&quot;<\/p>\n<p>&quot;One of the jokes online, after this (new policy) came out, was, &#x27;Why would I want to have another kid when I have to look after four elderly parents, already two kids and potentially nine grandchildren afterwards,&quot; he said.<\/p>\n<h2>Marriage registrations drop<\/h2>\n<p>On Weibo, China&#x27;s version of Twitter, the top four trending hashtags as of Tuesday morning were about the new three-child policy. Each hashtag had a few hundred million views.<\/p>\n<p>One popular post under the hashtag &quot;What changes the three-child policy will bring&quot; discussed how it would likely become harder for women to pursue a professional career.<\/p>\n<p>&quot;If you aren&#x27;t married, HR will worry whether you will need to take marriage leave,&quot; the Chinese-language post said, according to a CNBC translation. &quot;If you are married without children, HR will worry whether you will need to take maternity leave.&quot;<\/p>\n<p>&quot;If you are married with one child, HR will worry whether you will have a second child,&quot; the post added. &quot;If you are married with two children, HR will worry whether you will have a third child. If you are married with three children, HR will worry whether you can still manage work with three children.&quot;<\/p>\n<h2>Read more about China from CNBC Pro<\/h2>\n<p>Chinese yuan will become a top reserve currency sooner than expected, says Ray Dalio<\/p>\n<p>Chinese consumers are getting richer. UBS picks the stocks to cash in<\/p>\n<p>Morgan Stanley picks China stocks for the second half of the year<\/p>\n<p>Another major concern for Chinese couples is whether they can afford a house in a good school district, extracurricular courses and the many other costs needed to raise a child who they believe can then successfully get a good job in a highly competitive environment.<\/p>\n<p>The frenetic rat race within what are often elite, narrow social groups in China has gained so much attention recently it has popularized its own term \u2014 &quot;nei juan&quot; \u2014 which The New Yorker magazine translated last month as &quot;involution.&quot;<\/p>\n<p>Even before considering the question of children, fewer people are forming families. Marriage registrations in mainland China fell 12% last year, marking a seventh year of decline, according to data from Wind Information.<\/p>\n<h2>Too little, too late?<\/h2>\n<p>Beijing is trying to address some of the social factors that are keeping births low. In addition to allowing each couple to have three children, Chinese authorities emphasized at a meeting Monday the need to reduce the education costs, improve maternity leave and increase support for retirees.<\/p>\n<p>Many of these demographic problems are the same faced by countries such as Japan, where more than 28% of the population is aged 65 or older and growth has stagnated.<\/p>\n<p>The primary economic consequence from an aging population is a lack of productivity.<\/p>\n<p>In China&#x27;s case, the country is much poorer than Japan so its productivity growth has more room to rise, preventing the economy from falling into Japan&#x27;s situation in the near future, Shaun Roache, S&amp;P Global Ratings&#x27; Asia-Pacific chief economist, said Tuesday on CNBC&#x27;s &quot;Squawk Box Asia.&quot;<\/p>\n<p>But he noted that China is aging more rapidly than Japan and western Europe, creating a problem that needs to be addressed quickly.<\/p>\n<p>&quot;If people feel the whole of society is aging very, very quickly, they worry about who is going to be paying their pension. They save much more and consume less,&quot; Roache said. &quot;You get an unbalanced economy that creates problems in the property market, that leaves the economy too reliant on exports.&quot;<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/06\/01\/china-wants-couples-to-have-more-kids-chinese-people-are-less-enthusiastic.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China&#x27;s announcement Monday that couples can have three children generated a buzz of online discussion on why it isn&#x27;t practical to have children, let alone [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":115549,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China wants couples to have more kids. 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