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Summary:

In China, the affordability of a second child is under question. Using the example of a young couple in China, it takes at least of a third of the annual household income to raise a child of two years, compared to a fifth of the annual household income for families in the US.

Full article: https://www.15mins.today/blog/617-chinese-couples-can-t-afford-a-second-child

Vocabulary and Sample Sentences:

Splash out (on) / Splurge on (informal) spend money freely on

• Chen used to be happy to splash out on skincare and cosmetic products for herself.
• Every Christmas, Chen would splurge on gifts for the family.

Annual income – yearly income

• With Chen’s current annual income, she will not be able to afford a second child.
• James is earning an annual income of US$50,000.

Middle class n. group of people between upper class and lower class. (segmented by income)
Adj. characteristics of middle class, attaching importance to convention and material comfort.

• Ikea furnitures are targeted at the middle class who earn between USD20,000 to USD30,000 in annual income.
• Toyota Camry is considered a good middle-class sedan for families.