China Faces Economic Headwinds from Aging Population and Declining Birth Rates That Could Limit Growth Potential

China faces demographic challenges - aging population, declining birth rates - that will hamper economic growth
Chinese economist argues China can achieve high income status and half of US GDP per capita by 2049
Another economist disagrees, saying physiological realities of aging limit potential for growth
China also faces other economic headwinds like property market weakness and manufacturing declines
To escape "middle income trap," China needs a "paradigm revolution" as difficult as 1978 reforms