China's new birth policy: Not as simple as one, two, three

THIS WEEK'S TOPIC: What will be the impact, if any, of China's new policy to allow couples to have up to three children?

Victor Mills Chief Executive Singapore International Chamber of Commerce

The impact will be minimal. History teaches us all attempts at social policy or legislation to increase birth rates never produce the hoped-for results. The lessons are clear at least from the time of the Emperor Augustus of Rome through Singapore's and China's social policies. Economic progress, enabled by access to education for men and women, results in growing affluence and changes human aspirations. It is not just joint careers that matter. The increasing costs of bringing up children combine to reduce birth rates everywhere. China is no different. Automation and robotics will have to take up the manpower slack everywhere.