Pakistan’s close ally China faces major threat! Offering citizens lakhs of money due to…, reason will shock you
With the rising conflicts and wars across the globe, several countries are either stockpiling military assets or emphasizing population growth. Many countries are preparing for conflict in today’s geopolitical climate. Orders to strengthen military capabilities are increasing, and population size is once again being viewed as a strategic asset. It is to be noted that population holds a significant role in war—whether as a source of manpower, economic strength, or national resilience.
Well, Pakistan’s close ally, China, is facing a serious problem: declining birth rates. According to the BBC report, the Chinese government has announced an annual subsidy of 3,600 yuan (around £375, $500) payable to parents for each child under the age of three under a new initiative launched to encourage more births nationally for the first time.
China is now experiencing the consequences of its largest policy blunder: the ‘one child’ policy. While it produced rapid economic growth for decades, it also produced a fast-growing elderly population and turned China into an ‘aged’ nation before its time. This situation has become so dire that the government is now offering subsidies to encourage childbirth.
On Monday, the government announced a policy that will provide the parents of children under the age of three an annual subsidy of 3,600 yuan (reportedly about Rs 41,000). The policy will be implemented on January 1, 2025. Meanwhile, even families with children born in 2022, 2023, or 2024 will still be eligible for partial benefits. The subsidy will be tax-free and excluded from poverty-assistance eligibility calculations. The government estimates that 20 million families could benefit from the new program.
According to state media, the handouts will benefit about 20 million families, with the cost of raising children. The plan was revealed on Monday, with parents receiving up to 10800 yuan per child. Beijing’s state broadcaster CCTV said the policy will be retroactive to the beginning of the year reported BBC. This comes amid multiple local government initiatives designed to address low birth rates in locations across China.
For example, in Hohhot, a city in the northern region of China, parents are receiving support of up to 100,000 yuan per baby for couples with at least three children.
The study by the China-based YuWa Population Research Institute found that 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, CNN reported.
The cost of raising a child to age 18 in China is 6.3 times higher than the country’s GDP per capita, the report said – a ratio second only to South Korea, which has the world’s lowest fertility rate, and where the cost of child-rearing is 7.79 times the GDP per capita, CNN reported.
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