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While I personally do not think China's family planning policy of one child policy is or was a good public or even demographic policy, I do not think the study by those professors is good either.
The one child policy is too severe and it would have been much better for a two children policy both to limit population growth and to be reasonable.
But that study is a waste of time that shows an appalling failure of the economics profession. They don't have any idea on how to fix the current economic crisis, but they spend time on something totally irrelevant. In econometrics, this type of study can be characterised as spurious.
The argument on the international imbalance in savings and consumption is absolute nonsense, just reciting what has been a piracy theory created in teh US, namely, if you are robbed, it is your own fault, because you allowed the robber to rob you.
I have not seen anything lower than this in economics before.
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