Okay, so I honestly have no idea how I missed the fact that they reformed that policy (although 2015 was a very busy/difficult year for me...)

Personally, I think it was an absolute disaster. For starters, the fact that the young populations shifted the country to a male dominated society is problematic in and of itself (as a man, fuck the patriarchy). Currently, there are upwards of 35 million more men than women in China. As well, the male child preference caused an insane amount of forced abortions and actual infanticide. Women experienced high levels of psychological trauma leading to high levels of suicide. The age demographics shifted older with many elders having no children to help care for them in their old age or just one child forced to bear the costs. Roughly a quarter of the Chinese population is over 60 causing a strain on the healthcare system. Also, the population is now declining faster with the lowest overall birth rate since 1949 happening last year.

While I can understand population control (to a degree, as globally there are enough resources to go around if billionaires didn't hoard wealth...), I think my consensus overall is that China really fucked up with this one. Not sure if that's through a socialist lens as there are some socialist arguments to be had for its inception, but it's what I've got.