Busy Shopping Street in Shanghai, China at night
Some Chinese consumers are reining in their spending.
  • China's population fell for a second consecutive year in 2023, data published Wednesday showed.
  • That's bad news for the world's second-largest economy.
  • Beijing is already battling deflation, weak demand, and an ongoing property-market crisis.

China's population fell again last year – and that's a worrying sign for Beijing policymakers already grappling with deflation, a property crisis, and anemic economic growth.