The cost of raising a child in China stands at nearly seven times its per capita GDP, far more than in the United States and Japan, highlighting the challenges facing Chinese policymakers as they try to tackle rapidly declining birth rates, new research showed.
Experts warn China's ageing population will put huge pressure on its health and social security system, while a dwindling workforce could also severely limit growth for the world's second largest economy in the coming decades.
China ranks second highest among the 13 countries included in the study, behind only South Korea, which has the lowest birth rate in the world. The U.S. figure, based on 2015 data, stood at 4.11 times per capita GDP while Japan's figure, based on 2010 data stood at 4.26. "With such calculations, I can barely imagine a second child and any family that wants a third is just amazing," she said.
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