Summarized several contradictory explanations related to the newborn population: 1) The contradiction between the increase in aging pension consumption and the decline in the newborn population! One of them is the pension’s Yin Chi Mao Liang. 2) The contradiction between the consolidation of profit-sharing groups and the decline in the new population. Class consolidation does not mean that the two strata have no wealth exchange, but that the second of the second and eighth middle schools depends on the wealth created by the eighth middle school. 3) The financial bubble will rely on the support of the lower base of the pyramid for overdrafts in the future. To give the simplest example, investing in so many houses is expecting someone to buy it from the holders at a higher price in the future. The reason is that there is no fear. The bundled public resources may not be as scarce as before after the declining birthrate, and some people even become non-rigid needs. 4) In the short-term, the role of smart manufacturing in publicity is greater than its actual role, and input or even output. Most of it requires local finances. We account for more than half of the world’s manufacturing capacity, which is also a key part of economic growth. It will be very important in the short term (ten years). Relying on labor dividends, the so-called dividend refers to the cost-effectiveness of labor, which includes not only the average education level, but also the average working hours and hourly wages! The prerequisite for making money in finance is that the entity is profitable, and the relationship has changed from the previous symbiosis to the present parasitism, and the premise is that the host cannot die. 5) The middle-income trap relies heavily on cost-effective labor dividends. The low- and middle-end manufacturing industries are often labor-intensive, and their profits are derived from the mining of large-scale labor dividends. Correspondingly, many people are provided with middle-income opportunities. Disappearing, it is unprofitable. The capital-led industrial chain leads to more cost-effective areas. Fewer people may not necessarily increase the employment rate. The middle-income early-stage cake continues to grow, covering up the problem of uneven distribution. Once wealth The speed of creation drops, and social conflicts intensify in an instant. To sum up, the economy is a system in which some people produce and some people consume. No matter when there is a shortage of groups that create wealth more than consumption, aging coupled with the emergence of Ponzi in various fields, it also needs takers, such as macro leverage and asset bubbles. Rely on young people to deal with the situation. But it has also fallen into an endless loop. The smaller the young population, the greater the average burden on young people by aging and Pond’sization. The greater the burden, the lower the fertility rate, and the smaller the young population in the future, and even low-desire groups and groups will appear. The gnawing old tribe should also be excluded from the wealth-producing group. Therefore, there is almost no solution to the decline in fertility at this stage, and the solution can only be found in the endless loop. The first possibility: increase output without increasing working hours. This is more dependent on technological progress and let young people There is enough time to enjoy life; the second possibility: to prevent Pondrichization from reaching young people, which means major reforms in many distribution systems, such as the bundling of academic degrees and houses, and a fairer distribution of public resources. It is not a joint effort to force young people to take up all aspects of the profit. The increase in pension costs under aging cannot be completely attached to young people. The third possibility: to strengthen the implementation of labor protection, can not make 996 really a blessing, even there is no rest time, marriage and childbirth education is even more difficult, this is obviously a way of exhaustion.