Demographic transition and economic miracles in China: an analysis based on demographic perspective

Demographic transition has been completed in China at the end of 20th century. The population in China grows slowly now. The demographic transition brings about the change of population age structure, which forms demographic window for the infinite supply of labor force. The demographic window provides a new driving force for China’s economic development; however, it will not turn into demographic dividend automatically. The practice of reform and opening up in China indicates that the demographic transition has created a window of opportunity conducive to economic growth and provided the potential for economic development. The demographic window could only be changed into demographic dividend and become an important source of economic growth if it is supplemented by the compatible domestic economic and social development policies and the globalized international economic environment for peaceful development. China has firmly grasped and developed the demographic opportunity, changed the demographic opportunity into economic dividend, harvested the demographic dividend successfully, which promoted the take-off of economic growth, and created the economic miracles in China. © 2020, Japan Economic Policy Association (JEPA).