Money supply and fertility rate The following table is the top ten countries ranking by M2/GDP ratio. Countries with population less than ten million are excluded to reduce the impacts of financial centers. We also list their corresponding fertility rates Rank | Country / Territory | M2 / GDP Ratio (%) | Total fertility rates | 1 | Japan | ~280%–300% | 1.2 | 2 | China | ~220%–240% | 1.0 | 3 | Taiwan | ~170%–185% | 0.86 | 4 | United Arab Emirates | ~150%–165% | 1.2 | 5 | Vietnam | ~140%–150% | 1.9 | 6 | Thailand | ~135%–145% | 1.2 | 7 | United Kingdom | ~130%–145% | 1.6 | 8 | South Korea | ~130%–140% | 0.72 | 9 | Malaysia | ~125%–135% | 1.6 | 10 | Canada | ~120%–130% | 1.3 |
Fertility rates are quite low in most of these countries. It is not a good idea to print money to boost fertility, as suggested by some economists. In high money supply countries, housing price is high and capital valuation is high. This makes it difficult for young families to own houses and to start new businesses, thus reducing fertility. High money supply also increase government power and the power of large businesses. So power and wealth are more concentrated into a small minority, thus reducing fertility.
| 
