China doesn’t have 1.4 billion people. The country is experiencing a sudden and severe population decline, which has devastated its economy. This demographic collapse is visible to ordinary citizens, as empty streets, deserted shopping malls, and struggling businesses reveal the reality of a shrinking country. The economic downturn is not just theoretical—businesses across industries are suffering from the disappearance of customers. To address the growing problem of hollowed-out communities, Beijing has begun merging villages as a first step in restructuring rural areas.1. Impact of population decline on business and real estate2. The village merger program3. Impact on consumer spending
