Big picture: China's births might hit a record low this year, deepening its demographic crisis. Academics admit births could fall to 7 million, with profound implications for the world's second-largest economy.
By the numbers:
* Estimated births in 2023: 6 million to 8 million.
* Drop in births over the past five
Long term, yes, great for the planet. But shorter term, a shrinking pool of working aged adults are going to have to care for a growing pool of elderly. Additionally, the overall economy is going to contact before the age cohort imbalance takes care of itself. Same thing is happening across most of the developed world, but it’s happening faster in China, and they’re less developed to start with.