As LiR alluded on the "daily diaries" thread about the "hidden children" the consequence among others of the one child policy and the preference of the families, especially the men, to have a son (a bit the same as in the royal families along the Salic Law, where only a son could succeed. Hence the frenetic search for a male descendant)
So, many parents were obliged to chose for abortus if it would be a daughter or to have a non official birth and to hide the daughters from the authorities.
https://press.uchicago.edu/ucp/books/book/chicago/C/bo22977673.html

Another more dramatic consequence nowadays is the lack of children and the spectre of an economic slowdown by shortness of working people to support an economy, which has to provide a lifelihood for the whole society.
https://www.theguardian.com/world/2019/mar/02/china-population-control-two-child-policy

It is just one reaction of the by one party directed state policies and I don't now if this will have effect even in a near dictatorial state policy as in China nowadays.

What did not surprise me, (as it is from my memory about reading about the Chinese society from the 19th century on among others the 5 tomes biography of Han Suyin (born from a Belgian lady and a Chinese engineer studying in Belgium in the second half of the 19th century)) was the high standards of education that the families wanted for their (preferably) sons, even the more average earning families.

And as I see in the Guardian article that custom is still highly present in the nowadays Chinese families. That means in my opinion, that even with an elder population pyramid or despite of it, there will always a high level educated average population be present to compete with the US and Europe, which is again in my opinion a real challenge especially of the US in the global market competition?

Paul.