Costly child care hurts growth

It is generally believed that a healthy population replacement rate should be 2.1 children per woman. But since 1970, the OECD average has dropped to 1.7 – raising troubling implications for the future workforce, tax base and economy of OECD countries. The FT's Christopher Booker explores childcare pressures in London, Brooklyn and Shanghai, and how financial incentives may not be enough for families.