China faces a baby shortage (AFP)
China’s rapid economic growth and ineluctable rise faces an unavoidable threat.
Well-flagged dangers, such as asset price bubbles exploding, hidden non-performing bank loans being exposed, inflation adding to rumbling social discontent, or consumption failing to catch up with years of investment in fixed-capital formation, might turn out to be merely temporary glitches, if they materialise at all.
However, that’s not the case for what amounts to China’s ticking demographic time bomb. Unfortunately,...