China’s falling population & global population update - EP174

The world’s population keeps growing and passed 8 billion in late 2022, but China’s population is now falling. There are concerns over what that means for its economy and the wider global economy. Is Paul Krugman right that a falling population means a weak Chinese economy? Show host Gene Tunny and his colleague Tim Hughes discuss the possible implications of a shrinking China, as well as global population projections out to 2100. The conversation touches on the environmental impact of a growing population and how well-placed we are to manage environmental challenges.    Please get in touch with any questions, comments and suggestions by emailing us at [email protected] or sending a voice message via https://www.speakpipe.com/economicsexplored. What’s covered in EP174The world’s population is on the rise and passed 8 billion in November 2022 [4:24]Why post-war population growth was so strong [7:43]What does a declining Chinese population mean for the Chinese and global economies? [14:09]The importance of immigration in Australia population growth [19:27]How the world’s population will eventually level out  toward the end of the century [23:35]Can governments solve environmental challenges? Discussion of the hole in the ozone layer and the Montreal Protocol [30:09]Paul Krugman vs Dean Baker on the future of China [42:07]Tim asks how do you maintain a growth mindset in a declining population? How do you make it work? [47:25] Will demographics and a weaker economy bring down the Chinese administration? [53:06] Links relevant to the conversationUN World Population Prospects 2022 datahttps://population.un.org/wpp/Paul Krugman’s article “The problem(s) with China’s population drop”https://themarketherald.com.au/the-problems-with-chinas-population-drop-2023-01-19/  Dean Baker’s article “Paul Krugman, China’s Demographic Crisis, and the Which Way Is Up Problem in Economics”https://cepr.net/paul-krugman-chinas-demographic-crisis-and-the-which-way-is-up-problem-in-economics/China’s old-age dependency ratiohttps://population.un.org/wpp/Graphs/Probabilistic/Ratios/OADR/65plus/15-64/156Stanford Business School article “Baby Bust: Could Population Decline Spell the End of Economic Growth?” discussing Charles I Jones views on the link between population, innovation, and economic growthhttps://www.gsb.stanford.edu/insights/baby-bust-could-population-decline-spell-end-economic-growthCreditsThanks to Obsidian Productions for mixing the episode and to the show’s sponsor, Gene’s consultancy business www.adepteconomics.com.au. Please consider signing up to receive our email updates and to access our e-book Top Ten Insights from Economics at www.economicsexplored.com. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.