Crisis awaits China as Xi pledges for third term
Beijing, China:
Valerio Fabbri, writing in Portal Plus, a Slovenian publication, said the demographers have predicted that the shrinking may begin in 2022 itself, a turning point that will weaken the government's economic tools which in turn could impact manufacturing, China's main economic weapon spearheading its economic supremacy in the last couple of decades.
China is already struggling to meet the rising cost of health and social care and their expenditure on draconian zero-Covid infrastructure has ballooned. In contrast, tax receipts from the battered property sector have plummeted and now the population is shrinking, according to Portal Plus.
Portal Plus citing Global Times reported that in several provinces of China, the number of new births in 2021 was the lowest in deca...