IMF: More than new baby policy needed
China’s more relaxed population policy is unlikely to boost the nation’s birthrate, while other policies, such as encouraging women and seniors to work, are critical to curb the problems of the country’s aging society, according to the International Monetary Fund.
The IMF did not give an exact projection of how the new child policy would lift China’s fertility rate. The report, however, focused on how different policy options would affect age-related spending by 2050 and 2100.
For China, the IMF found that increasing fertility would only cut pension and healthcare spending by 0.6 percentage points by 2050. Increasing women’s participation in the labor force would cut 0.7 percentage points, and increasing senior participation in the labor force would cut 1 percentage point.