Dear MEL Topic Readers,
China has another solution to its shrinking population: robots
Thanks to the massive workforce, gigantic market size, and the
government’s initiatives, China’s economy grew rapidly in the last two decades
and has become the world’s second-largest economy, only after the USA. Those
who have contributed to the growth are now, or soon, retiring and aging. They
will need care sooner or later. Traditionally, children took care of their
parents in China, but things have changed as many of them work away from home
for opportunities. Also, even after the removal of the decades-long one-child
policy, China’s total fertility rate has fallen to around 1.0, well below the 2.1
reproduction level. As a result, its population declined by more than 3 million
last year. How will China maintain economic growth and provide care to aging seniors
with a smaller workforce and population? One solution is already there. Robots.
In fact, China is the world’s largest market for industrial robots, with over
half of all robots worldwide. Industrial robots are key to improving
productivity and increasing production output. Also, China is keen on humanoid
robots, which could help or replace humans in factories, distribution, stores, restaurants,
and care services. As the capabilities and productivity of these robots and
humanoids are further enhanced by AI, they are expected to mitigate China’s population
and demographic issues, even though they may replace the existing workforce or reduce
employment opportunities until humans re-skill or up-skill themselves to the
new environment. So, it seems that the timing and speed of transition,
replacement, and reinforcement are the key to coping with China’s demographic
and social challenges.
Read the article and learn about China’s socio-demographic challenges and
technological solutions.
