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What does the future hold for China's Economy? - Coggle Diagram
What does the future hold for China's Economy?
Long working hours
no time to care for child --> decide not to have child
996: working from 9 AM to 9 PM for 6 days a week
some people don't think It's worth It (to have a 996 work lifestyle)
China Is starting to Invest money Into pension plans and other plans that social support --> could delay growth to be an economic superpower (this is a much different focus that what it's used to)
Automation --> factories
Because It's harder to keep up with wages
Workforce shrinks, but tech makes up for It
More digitised, high tech
Leading In technology In the world
Urbanisation
People are moving to cities --> more productive --> good for economy
People In rural areas can't contribute as much
China will most likely be neck In neck with America In terms of economy by the end of the decade
Ageing population
More old people, less young people
Birth rates have dropped
Devoting more resources to take are of these old people
Older people can't work as much
Some young people don't want to have kids
fewer new babies --> fewer working people --> dip In economy