The article discusses the demographic crisis facing many Asian countries due to rapidly aging populations and low birth rates. It highlights how this shift threatens economic growth and strains social safety nets. Key points include: Japan has the world’s oldest population, with 28.7% aged 65 or older, and its workforce is shrinking. South Korea’s population is projected to start declining in 2028. Singapore’s total fertility rate is just 1.1 births per woman. Aging populations mean fewer workers to drive economic growth and support the elderly. Countries face rising health and pension costs, labor shortages, and slower economic expansion. Potential solutions mentioned include raising retirement ages, allowing more immigration, and investing in robotics and AI to boost productivity. However, the article notes that such measures may be insufficient to fully offset the economic impacts of rapidly graying populations across Asia.
Source: https://apnews.com/article/asia-labor-aging-equity-economy-72d75c0ce755e641788bab792fda8063