{
  "title": "Chart of the Week: The Cost of Asia’s Aging",
  "publication": "IMF Blog, May 1, 2017",
  "sourceUrl": "https://www.imf.org/en/blogs/articles/2017/05/01/chart-of-the-week-the-cost-of-asias-aging",
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  "summary": "The demographic dividend in Asia—driven by a young, growing work force (aged 15-64)—is coming to an end as fertility rates decline and life expectancy increases.",
  "sections": [
    {
      "heading": "Demographic trends",
      "content": "- The demographic dividend in Asia—driven by a young, growing work force (aged 15-64)—is coming to an end as fertility rates decline and life expectancy increases.\n- Many countries, particularly in East Asia, will be the fastest-aging societies in the world in the next few decades.\n- The region’s population growth, which is already negative in Japan, is slowing and projected to fall to zero by 2050.\n- More than a third of the population in Singapore and South Korea are at least 50 years old; in Japan that share is close to half the population.\n- Asia’s workforce is expected to shrink by hundreds of millions of people."
    },
    {
      "heading": "Economic impact and projections",
      "content": "- Aging could potentially drag down Japan’s average annual GDP growth by 1 percentage point over the next three decades.\n- India and the Philippines, with some of the youngest populations in the region, could potentially see GDP increase by 1 percentage point from a growing workforce.\n- China could potentially see a decline of 170 million people in its working-age population over the next three decades.\n- Over time, a shrinking workforce and aging population can mean a rise in healthcare costs and pension expenditure, putting pressure on government budgets and translating into lower growth unless offset by supportive policies for productivity and high-quality jobs."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Labor market reforms are key for aging societies to mitigate adverse growth impacts.\n- Encouraging foreign workers, including through guest worker programs and migration, can partially offset declines in the domestic labor force.\n- Raising labor force participation of women—by expanding child-care facilities (for example, in Japan) and promoting flexible employment—can reduce labor shortages and mitigate adverse growth effects of aging.\n- Policies that support productivity and high-quality job creation are important to counteract fiscal pressures from rising healthcare and pension costs."
    },
    {
      "heading": "Additional notes",
      "content": "- The blog post points readers to Chapter 2 in the upcoming Regional Economic Outlook for Asia and Pacific countries, to be released on May 9, for an in-depth analysis of Asia’s demographic landscape and economic prospects.\n- Publication date: May 1, 2017.\n\nSource: IMF Blog — \"Chart of the Week: The Cost of Asia’s Aging\", The Editors, May 1, 2017.\n\n---\n\n Content in this bundle\n\n- 本周图表：亚洲老龄化的代价; 2017年5月1日; IMF博客\n  - 本周图表：亚洲老龄化的代价; 2017年5月1日; IMF博客 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 本周图表：亚洲老龄化的代价; 2017年5月1日; IMF博客 (PDF){rel=\"external\" type=\"application/pdf\"}\n- 今週のグラフ: アジアの高齢化コスト; IMF ブログ 2017年5月1日掲載\n  - 今週のグラフ: アジアの高齢化コスト; IMF ブログ 2017年5月1日掲載 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 今週のグラフ: アジアの高齢化コスト; IMF ブログ 2017年5月1日掲載 (PDF){rel=\"external\" type=\"application/pdf\"}\n- Grafik Pekan ini: Dampak Penuaan di Asia, 1 Mei 2017\n  - Grafik Pekan ini: Dampak Penuaan di Asia, 1 Mei 2017 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Grafik Pekan ini: Dampak Penuaan di Asia, 1 Mei 2017 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- https://www.imf.org/wp-content/uploads/2017/05/Chartweekcht050117-002.png\n\nSource: https://www.imf.org/en/blogs/articles/2017/05/01/chart-of-the-week-the-cost-of-asias-aging"
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    "Authors: The Editors",
    "Published: May 1, 2017",
    "The demographic dividend in Asia—driven by a young, growing work force (aged 15-64)—is coming to an end as fertility rates decline and life expectancy increases.",
    "Many countries, particularly in East Asia, will be the fastest-aging societies in the world in the next few decades.",
    "The region’s population growth, which is already negative in Japan, is slowing and projected to fall to zero by 2050.",
    "More than a third of the population in Singapore and South Korea are at least 50 years old; in Japan that share is close to half the population.",
    "Asia’s workforce is expected to shrink by hundreds of millions of people.",
    "Aging could potentially drag down Japan’s average annual GDP growth by 1 percentage point over the next three decades.",
    "India and the Philippines, with some of the youngest populations in the region, could potentially see GDP increase by 1 percentage point from a growing workforce.",
    "China could potentially see a decline of 170 million people in its working-age population over the next three decades.",
    "Over time, a shrinking workforce and aging population can mean a rise in healthcare costs and pension expenditure, putting pressure on government budgets and translating into lower growth unless offset by supportive policies for productivity and high-quality jobs.",
    "Labor market reforms are key for aging societies to mitigate adverse growth impacts.",
    "Encouraging foreign workers, including through guest worker programs and migration, can partially offset declines in the domestic labor force.",
    "Raising labor force participation of women—by expanding child-care facilities (for example, in Japan) and promoting flexible employment—can reduce labor shortages and mitigate adverse growth effects of aging.",
    "Policies that support productivity and high-quality job creation are important to counteract fiscal pressures from rising healthcare and pension costs.",
    "The blog post points readers to Chapter 2 in the upcoming Regional Economic Outlook for Asia and Pacific countries, to be released on May 9, for an in-depth analysis of Asia’s demographic landscape and economic prospects.",
    "Publication date: May 1, 2017.",
    "**本周图表：亚洲老龄化的代价; 2017年5月1日; IMF博客**",
    "**今週のグラフ: アジアの高齢化コスト; IMF ブログ 2017年5月1日掲載**",
    "**Grafik Pekan ini: Dampak Penuaan di Asia, 1 Mei 2017**",
    "[https://www.imf.org/wp-content/uploads/2017/05/Chart_week_cht_050117-002.png](https://www.imf.org/wp-content/uploads/2017/05/Chart_week_cht_050117-002.png)"
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