China has been trying to incentivize people to have more children for a few years now, and it hasn't been working. Turns out, when the future looks bleak and you don't have time outside of work to socialize, let alone raise a child, you're less likely to be willing to have one.

Add to that all the work China did for decades to promote and enforce its widely-known one-child policy, and you've got a recipe for demographic collapse.