www.zerohedge.com China finally abandoned its controversial one-child policy in November 2013. But more than six years later, millions of Chinese couples are still unwilling to have a second child. And that’s a huge problem for the Communist Party, whose legitimacy in the eyes of the public depends on its ability to deliver on promises of unbridled growth and prosperity.
And who can blame them? Entrenched behaviors die hard, and after the government’s brutal treatment of citizens who defied its policy (which was initially imposed to ward off famine), we can sympathize with Chinese who simply believe that having two children isn’t in keeping with the fundamentals of patriotic socialism with Chinese characteristics.
But as the FT reported this week, issues of culture and perception aren’t the only reasons Chinese women are still refusing to have more than one child. As we reported last week, Chinese GDP growth slowed in 2019 to its weakest level in 29 years…
…proving unequivocally that Beijing’s massive credit stimulus hasn’t done much, if any, good.