Though the global economy is perhaps richer than ever before, at least in terms of material wealth and technological innovations, many nations are beginning to lack the most important asset of all — people. And few have been more outspoken about this problem than the world’s richest man.
Elon Musk recently reacted to the news that China — which boasts a population of more than 1.4 billion — added a mere 480,000 people in 2021 by issuing a warning that the east Asian country is poised for population collapse. Indeed, Chinese fertility rates plummeted from 1.3 to 1.15 births per woman between 2020 and 2021 alone — indicating that the Chinese are having children far below replacement levels. With each generation, up to 40% of the population may disappear.
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