China's population falls for a third straight year, posing challenges for its government and economy

China’s population has fallen for the third straight year, pointing to further demographic challenges for the world’s second most populous nation that is now facing both an aging population and an emerging shortage of working age people able to support their elders. The figures follow trends worldwide, but especially in East Asia, where Japan, South Korea, Hong Kong and other nations have seen their birth rates plummet. China three years ago joined Japan and most of Eastern Europe, among other nations where the population is actually declining. The reasons are in many cases similar: Rising costs of living are causing young people to put off or rule out marriage and child birth while pursuing higher education and careers.