Yikes. How will they know when it's safe to turn the circuit back on?Chinese stock market down 7% and trading halted. First use of thier circuit breaker announced last year.
But isn't the goal of a country to make the country as nice of a place to live as possible for the residents? Seems like importing 30+ million poor immigrants per year to hit your pop growth benchmarks would be a pretty terrible decision for China.The one-child policy is a relic from their cultural revolution when collectivist policies starved 120 million people, but it lingered because it was a useful incentive to stay in rural china instead of hopping on the massive urban migration that they're seeing to this day. The party couldn't give less of a shit about some ecological impact of 3 billion chinese babies, it was all down to a couple rows on a spreadsheet.
That said---and folks don't seem to get this---the one-child policy has less to do with China's massive demographic time-bomb than chinese cultural inclinations. Low fecundity and replacement rates are a consequence of their rapid economic ascendancy and rigid immigration barriers. South Korea has a similar demographic timebomb and of course Japan's massive demographic death sentence is legendary. Neither of those countries have ever had a 1-child policy. Taiwan and Singapore have similar issues.
It's a function of their inimical immigration policy too. Restrictive immigration is a major culprit in every developed country that's facing a demographic crisis. Germany is actually poised to be in a worse demographic situation than Japan. So are the low countries and Russia.
Ironically, the US mitigates the demographic situation because immigration, legal or otherwise, offsets the low fecundity of our middle- and upper-class families.
Cant let those pyramid schemes go collapsing.But isn't the goal of a country to make the country as nice of a place to live as possible for the residents? Seems like importing 30+ million poor immigrants per year to hit your pop growth benchmarks would be a pretty terrible decision for China.
China has ALREADY been importing millions of poor immigrants for most of the last couple decades. They just happened to be poor Chinese from the hinterlands instead of foreigners--and they've been funnelled into the shitty working and living conditions just as poor immigrants have been in every other country.But isn't the goal of a country to make the country as nice of a place to live as possible for the residents? Seems like importing 30+ million poor immigrants per year to hit your pop growth benchmarks would be a pretty terrible decision for China.
At 5% decline they take a break. At 7% they shut it down.Chinese stocks halted again. No wonder there is panic. When they halt trading they do it for a complete day. Not a trip breaker and let it reset, they shut it down for the day.