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Is China's one child norm helpful for the country ?

Chinese population rose by leaps and bound during the second half of twentieth century. Thus Chinese government adopted one child norm to help the population. Under this social norm, a couple is allowed to have only one child. Dramatically, the growth of population dropped to less than 0.5% per year. 

But is this norm really helpful for the Chinese economy. How would it effect Chinese future? To answer this question let us first take a look at the China's current population age group :