China Records First Population Drop , in 6 Decades.<br />CNN reports that China's National Bureau of Statistics (NBS) made the announcement on Jan. 17.<br />In 2022, the country's population <br />dropped by 850,000 from the <br />previous year to reach 1.411 billion.<br />According to analysts, China's <br />population has not declined since <br />1961 under former leader Mao Zedong. .<br />According to analysts, China's <br />population has not declined since <br />1961 under former leader Mao Zedong. .<br />The population will likely trend down from here in coming years. This is very important, with implications for potential growth and domestic demand, Zhiwei Zhang, president and chief economist <br />at Pinpoint Asset Management, via CNN.<br />CNN reports that the country's birth rate <br />also fell to its lowest level since <br />Communist China was founded in 1949.<br />There were 6.77 births per 1,000 in 2022. .<br />China also revealed it had suffered one of its worst yearly economic performances in almost 50 years. .<br />Its economy only expanded by 3%, which fell far short of the government's goals.<br />The data highlights the issues <br />China faces as its labor force dwindles <br />and its number of retirees grows. .<br />The Chinese economy is entering a critical transition phase, no longer able to rely on an abundant, cost-competitive labor force to drive industrialization and growth, Frederic Neumann, HSBC chief Asia economist, via CNN.<br />As the supply of workers begins to shrink, productivity growth will need to pick up to sustain the economy’s heady pace of expansion, Frederic Neumann, HSBC chief Asia economist, via CNN.<br />As the supply of workers begins to shrink, productivity growth will need to pick up to sustain the economy’s heady pace of expansion, Frederic Neumann, HSBC chief Asia economist, via CNN
