Dear MEL
Topic Readers,
Second-child
policy spurs new spending in China
New babies,
new businesses. Sounds good not only for couples who have wanted to have a second
child but also for businesses that sell maternity and infants goods and
services, including doctors and hospitals. Thanks to the adjusted policy by the
central party committee last year, more Chinese couples seem to be encouraged
to have second child despite the rising costs for education and housing.
It’s also good
for social development. The country had been under a strict one-child policy in
urban districts nearly four decades until the policy was eased in 2013. Only
couples in rural areas had been allowed to have a second one if the first child
was a girl.
This policy successfully
controlled the population growth but it also caused shortages in workforce as
well as gender imbalance because many Chinese couples prefer boys to girls.
It seems that Chinese
boys still have to wait for a while to find their mates.
Enjoy reading
and learning about new economy created by a policy change.
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