Working population numbers were now stagnating, it said, with a low fertility rate set to cause further issues.
"It's mainly due to wages stagnating and housing costs going up across the country.
The poor air quality across much of China that has accompanied rapid industrialisation and breakneck GDP growth could help to explain why several surveys have found stagnating or falling happiness in China since 2004.
Admittedly, it was evident even 20 years ago that median household incomes were stagnating in the US, inequality was rising in anglophone countries, and manufacturing employment was steadily falling.
For while the US economy grew briskly until the crisis of 2007, median household incomes started stagnating long before then — around 1970, in fact.
" China is the world's largest smartphone market, but shipments have started to shrink as demand is stagnating, according to research firm International Data Corp.
Men's wages are stagnating.
