China's demographic crisis means it's going to run out of workers

"The biggest challenge China faces right now isn't the Trump administration and its campaign to decouple the world's two biggest economies. It comes from within: China is experiencing population decline on a scale and at a speed the world has never seen. This will create ripples that will be felt across China and the world for decades to come. The impact on China's long-term growth rate could imperil Beijing's mission to become a global power to rival or replace the United States. And the huge shortage of labor will potentially affect supply chains of products including Barbie dolls, shoes, mobile phones and electric vehicles."

"'It's almost impossible to reverse a demographic decline,' said Louise Loo, the head of Asia economics at research firm Oxford Economics. She estimated China's shrinking workforce could shave 0.5 percent off annual gross domestic product growth over the next decade. The age composition of China's population in 1990 1990 1.15 billion people Age composition of the Chinese population per 100 people Under 15 years old Working age (15-59) 60 and over 1990 1.15 billion people Under 15 years old Working age (15-59) 60 and over"

China is experiencing a rapid and unprecedented population decline that poses the country's largest near-term challenge. The demographic shift will reduce the working-age population, create substantial labor shortages and shave expected economic growth. Oxford Economics estimates the shrinking workforce could lower annual GDP growth by about 0.5 percentage points over the next decade. The shortage of workers threatens manufacturing and supply chains for consumer goods and electronics, and could imperil Beijing's long-term strategic goal of becoming a global power. Age-composition data show a shift from the 1990 population of about 1.15 billion to 1.42 billion in 2023 with an aging profile.

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