China’s population shrinks for fourth straight year

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00:00Different colours and sizes. It's items like these that can now cost some 13% more.

00:07Beijing has scrapped a long-standing value-added tax exemption on condoms and contraception,

00:12because the trend is undeniable. China's population has been contracting since 2022.

00:19One of the reasons, for many, being a parent is just too expensive. Some now opt to raise pets

00:25instead. Our current financial situation is really only enough to support ourselves right

00:32now. If we had a child, the costs would be much higher. In the long run, we don't plan to have

00:39children. Raising a dog is already expensive. On average, raising a child to age 18 in China

00:45costs over 65,000 euros, 13 times more than the average annual per capita disposable income.

00:53But Beijing is determined. The tax aligns with China's goal of increasing birth rates.

01:00However, some warn if increased contraception costs are passed on to buyers,

01:04it may impact those already the worst of in society.

01:12I think that without proper protection, the most immediate consequences are the spread of STIs,

01:19HIV, and a higher risk of unintended pregnancy. For teenagers or women with limited financial

01:26resources, these risks can be life-altering.

01:37By 2040, the European Central Bank warns low fertility could cut China's GDP growth by 0.3%.

01:43The country's pension and healthcare systems would also be threatened.

01:48But with the cost of raising a child here still so high, a few extra cents on condoms is unlikely to

01:55make a difference when it comes to China's big demographics problems. The message from Beijing,

02:00however, is clear. To safeguard its economy, China needs its birth rate to increase. For now,

02:07that means fewer couples using protection.

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