A recent report highlights China's status as one of the most expensive places globally for raising a child, contributing significantly to the nation's dwindling fertility rates, particularly impacting women.
Research conducted by the YuWa Population Research Institute based in China revealed that the average expenditure for raising a child from birth to seventeen years old amounts to approximately $74,800 nationwide. This figure escalates to over $94,500 when factoring in expenses for supporting a child through a bachelor's degree.
Remarkably, the cost of nurturing a child until the age of eighteen in China stands at 6.3 times the country's GDP per capita, trailing closely behind South Korea, which holds the title for the lowest fertility rate worldwide. In South Korea, the cost of child-rearing surpasses the GDP per capita by 7.79 times.
By comparison, the report underscores the relative affordability of raising children in other nations. For instance, in Australia, the cost is a mere 2.08 times the GDP per capita, while in France, it stands at 2.24 times. In the United States and Japan, countries facing similar demographic challenges, the ratios are 4.11 times and 4.26 times, respectively.
Factors contributing to China's low birth rates include the exorbitant expenses associated with childbearing and the inherent challenges women encounter in balancing familial duties with professional endeavors. Consequently, the report indicates a striking reluctance among Chinese citizens to embrace parenthood, portraying the current demographic landscape as teetering on the brink of a population crisis.
