As the trip by US president Obama to China comes near, our Shaun Rein continues in Forbes to debunk common myths the outside world might have about China. Earlier he took on three business myths, today focuses on the Chinese genes that prescribe a high saving rate and the one-child policy.
A large majority of the Chinese not only support the policies of their government, but also specific ones like the one-child policy, Rein argues:
In fact, the government, worried about an aging population, is encouraging urban couples who are both only children to have two children themselves. Yet there have been few takers. Many parents don’t want to assume the costs of private schools and extracurricular activities like piano lessons for multiple kids. They would rather focus on rearing and spoiling one child, as they were reared and spoiled when they grew up.
Moreover, many women no longer want to take a break from their careers, and many are too spoiled themselves to make the sacrifices necessary to care for multiple children. Grandparents commonly take care of grandchildren while both parents work.