A new report from the China-based YuWa Population Research Institute has revealed that China is one of the most expensive places in the world to raise a child, with the disproportionate impact on women driving the country’s low fertility rate. The average nationwide cost of raising a child from birth to age 17 was about $74,800, rising to more than $94,500 to support a child through a bachelor’s degree, according to the report. This has led to a demographic crisis in the country.
The study found that the cost of raising a child to age 18 in China is 6.3 times higher than the country’s GDP per capita, which is second only to South Korea. The report also compared the ratio to other countries, stating that it is 2.08 times in Australia, 2.24 times in France, 4.11 times in the United States, and 4.26 times in Japan. The high cost of childbearing and the difficulty for women to balance family and work have resulted in the Chinese people having one of the lowest willingness to have children in the world.
The report has described the current population situation in China as a “collapse in the birth population,” highlighting the urgent need for measures to address the low fertility rate. This demographic crisis has significant implications for the country’s future, and there is a pressing need for policies to support families and encourage childbirth. As China grapples with this challenge, it remains to be seen how the government will tackle the issue and its long-term impact on the country’s population and economy.
