One of China’s totemic social policies is about to be abandoned.
The “one child policy” which, as the name suggests, limits each couple to one child, is going to be dropped.
According to Xinhua News Agency, the Chinese communist party’s central committee has scrapped the stricture. Couples will now be able to have two children.
The rule was brought in back in 1978, and fully implemented in 1980, to tackle the country’s perceived overpopulation.
There have always been some exemptions to the rule, and it has been relaxed in recent years, but not totally abandoned.
The country now has particularly poor demographics for an emerging market, with a large ageing population heading towards retirement. From this year, the ratio of workers for each person either too young or too old to work will begin to decline, limiting Chinese economic growth
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