China’s population crisis can be solved only by printing trillions of yuan to boost birth rate, prominent economist claims
- Controversial comments by Ren Zeping suggest that US$314 billion would help add 50 million kids over a decade, in part by relying on older Chinese women to give birth
- But demographers and state media throw cold water on Ren’s idea, warning of inflation risks and pointing to failed attempts in other countries
One of China’s most high-profile economists says the central bank should print 2 trillion yuan (US$314 billion) to help boost low fertility rates – a controversial suggestion that has sparked widespread discussion.
“The central bank [should] print an extra 2 trillion yuan to encourage society to have 50 million more kids in 10 years,” Ren said, adding that the money would be roughly 2 to 3 per cent of the country’s gross domestic product (GDP).
“This can solve China’s low-birth and ageing-population problems and energise the future without burdening people, companies and local governments. Based on our studies, this is the only, and the most practical, solution.”
He also urged China to establish the fund as quickly as possible, so older women who remain fertile can take advantage of it.
