World Desk, AnyTV, Beijing
Published by: Harendra Chaudhary
Updated Fri, 25 Feb 2022 05:57 PM IST
Summary
In China, raising a child costs 6.9 times the GDP per capita. In the US, this figure was 4.11 times in 2015, 5.25 times in the UK in 2021, and 5.64 times in Germany in 2018. The report noted that there is a huge difference in the cost of child-rearing between cities and villages in China. In this sense, Shanghai is the most expensive place, the cost of raising a child from birth to 18 years is one million three thousand youths…
In China, it is now formally accepted that people are avoiding having children due to the cost of raising children. A recent study in this regard has revealed that the average cost of raising children in China from birth to the age of 18 years comes to four lakh 85 thousand youths i.e. about 76 and a half thousand dollars. This study is based on the 2019 data. The study was done by an organization named U-Wa Population Research.
The researchers prepared their report comparing China with data from 13 countries in Europe, Asia and the Americas. According to this study, the most expensive parenting of children is in South Korea. There, 7.79 percent of the per capita GDP is spent on the upbringing of the child from birth to the age of 18. The report noted that the birth rate per woman in South Korea has fallen to 0.84.
The cost of raising a child up to ten lakh three thousand youth
China is second in this respect, where 6.9 times the GDP per capita has to be spent on the upbringing of a child. In the US, this figure was 4.11 times in 2015, 5.25 times in the UK in 2021, and 5.64 times in Germany in 2018. The report noted that there is a huge difference in the cost of child-rearing between cities and villages in China. In this sense, Shanghai is the most expensive place, the cost of raising a child from birth to 18 years is one million three thousand Yuvan.
The report clearly states that the increasing expenditure on child-rearing is the reason why married couples do not want to have more than one child. Many young people even want to avoid marriage. As a result, the child birth rate per woman in China fell to 1.64 in 2021. There were 81 lakh 40 thousand marriages in China in 2020, which was 11 lakh 30 thousand less than 2019. This number has steadily declined every year since 2013. The total fertility rate in China has come down to 1.15.
Japan’s fertility rate fell to 1.26% in 2005
Now the researchers warn that if steps are not taken to improve the situation, China will face the same problems as Japan faced in 2005. Then the fertility rate in Japan had dropped to 1.26 percent. But after that Japan has been able to increase it marginally. In 2021, this rate was 1.3 percent there. The report said that if the current trend continues, by 2040, China will face a more difficult situation than Japan.
Therefore, the study report suggests reducing the cost of raising children. One of the suggestions included is to give a subsidy of one thousand Yuvan to the couples for every child born up to two children. Couples with three or more children will get subsidy of two thousand Yuvans. This amount should be given every month till the child turns 20. Apart from this, suggestions have also been given to give income tax exemption to couples having more children and make them pay more towards social security.
Expansion
In China, it is now formally accepted that people are avoiding having children due to the cost of raising children. A recent study in this regard has revealed that the average cost of raising children in China from birth to the age of 18 years comes to four lakh 85 thousand youths i.e. about 76 and a half thousand dollars. This study is based on the 2019 data. The study was done by an organization named U-Wa Population Research.
The researchers prepared their report comparing China with data from 13 countries in Europe, Asia and the Americas. According to this study, the most expensive parenting of children is in South Korea. There, 7.79 percent of the per capita GDP is spent on the upbringing of the child from birth to the age of 18. The report noted that the birth rate per woman in South Korea has fallen to 0.84.
The cost of raising a child up to ten lakh three thousand youth
China is second in this respect, where 6.9 times the GDP per capita has to be spent on the upbringing of a child. In the US, this figure was 4.11 times in 2015, 5.25 times in the UK in 2021, and 5.64 times in Germany in 2018. The report noted that there is a huge difference in the cost of child-rearing between cities and villages in China. In this sense, Shanghai is the most expensive place, the cost of raising a child from birth to 18 years is one million three thousand Yuvan.
The report clearly states that the increasing expenditure on child-rearing is the reason why married couples do not want to have more than one child. Many young people even want to avoid marriage. As a result, the child birth rate per woman in China fell to 1.64 in 2021. There were 81 lakh 40 thousand marriages in China in 2020, which was 11 lakh 30 thousand less than 2019. This number has steadily declined every year since 2013. The total fertility rate in China has come down to 1.15.
Japan’s fertility rate fell to 1.26% in 2005
Now the researchers warn that if steps are not taken to improve the situation, China will face the same problems as Japan faced in 2005. Then the fertility rate in Japan had dropped to 1.26 percent. But after that Japan has been able to increase it marginally. In 2021, this rate was 1.3 percent there. The report said that if the current trend continues, by 2040, China will face a more difficult situation than Japan.
Therefore, the study report suggests reducing the cost of raising children. One of the suggestions included is to give a subsidy of one thousand Yuvan to the couples for every child born up to two children. Couples with three or more children will get subsidy of two thousand Yuvans. This amount should be given every month till the child turns 20. Apart from this, suggestions have also been given to give income tax exemption to couples having more children and make them pay more towards social security.