China’s falling birth rate is set to have a detrimental effect on the economy, a central bank adviser says. Photo: Bloomberg
China facing economic crisis as population peak nears, PBOC adviser says
- Consumption set to slump after population tops out in 2025, says Cai Fang, a member of the central bank’s monetary policy committee
- Beijing must ‘increase labour participation and social security benefits’ for the elderly to shore up consumer demand, he says
China’s falling birth rate is set to have a detrimental effect on the economy, a central bank adviser says. Photo: Bloomberg
