Yesterday Australia received some very, very big news. It wasn’t reported because it’s pretty scary. Goldman summed it up nicely:
NBS released the key results of the 7th population census today. Overall population in China reached 1.412 billion in 2020, an average growth rate of 0.53% yoy from 2010 to 2020; in comparison with the average growth rate of 0.57% from 2000 to 2010.
Overall dependency ratio is 46% vs 34% in 2010. Old age dependency ratio (population aged 65 or above divided by population aged 15-64 years old) is 20% in 2020 vs 11% in 2010, pointing to increased population aging pressures.