Why are richer countries like Israel having fertility rates 150% higher than China (and increasing!!!). It's clearly not all about wealth. Sure, a significant part of it is, but it's not the whole story.
There are huge behavioral changes happening, mostly in the Western World and now in the post-WW2 era in the East Asian world (Mainland China was a late catchup in this problem as compared to Japan/SKorea/Taiwan/HK/Macau/Singapore, for obvious reasons). It's those two civilizations or population groups that are experiencing collapses in birth rates.
Sure the inverse correlation between development/wealth/income and birth rate is very high, but so is the inverse correlation between IQ and birth rate, and liberalism and birth rate.
You don't want to lower IQ of course so that's a dead-end, and wealth/income and their distribution are already being worked on by China so there isn't much to do there (other than be more aggressive in this domain). On the other hand, countering liberalism regarding sexuality, morality, cosmopolitanism, and metro-sexuality is the one thing that hasn't been attempted by any country really. Except, of course, Israel.
Obviously they also have the irrational fear that they are about to be wiped out by a bunch of impoverished brown people which I'm sure incentivizes them, but they are already one of the most high population density countries on Earth, and that's not even considering that a huge percentage of their land is just rocky desert (Negev).
Also, for those that keep harping on about how it's only the extreme religious Haredi Jews that keep Israel's TFR at ~3.0, you couldn't be more wrong.
The Haredi Jews are actually at 6-7 births per woman so this massive fertility boom is happening across all aspects of Israeli society.
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Modifying and reversing Western degeneracy and outlook on life should be the goal, and it looks like this is increasingly becoming the goal of the CCP. Everything from banning effeminate boybands to reducing gaming and tutoring and much more; these things would never be done in a capitalist society. Even the traditionalist societies of Russia and Belarus probably won't go as far as China looks to be going.
Good for China. If anyone can reverse this it will be them. But it should do more and do it faster, not worrying as obsessively about the destabilization of society. They are way too obsessive about that. More risks need to be taken or it will become very stagnant very quickly.