China’s impending population decline is often cited as a harbinger of its economic and strategic collapse. But while a shrinking population represents a major challenge, the assumption that a country derives its strength from the number of people living within its borders is often overly simplistic. Indeed, China is facing various demographic issues with wide-ranging implications beyond population decline. The next five years will be critical in addressing these issues, which should be framed as part of an ongoing -- and painful -- middle-income transition that the Chinese government has determined requires strong central leadership to manage....
