2023-05-07 12:13:57
Reported by Pridi Bunsue
news report of nytimes.com About Japan Has Millions of Empty Houses states that from the case of the Japanese population is dwindling. As a result, there are more than 10 million residential properties that have been abandoned, causing difficult problems. It’s hard to find people who want to buy in as many as abandoned houses. to almost no value only land that can still maintain the price The homeowner therefore has no incentive. to maintain the old house
In the case of China Population decline will become a problem for countries in the world. Because China will have the same conditions as neighboring countries in Asia. is both a declining population and an aging population that is increasing at the same time Over the past several decades, China’s massive population of “working age” is the engine power of the global economy. It is a labor resource with cheap wages. entered into the factory to produce products exported to all over the world A declining population also means a decline in the purchasing power of Chinese consumers. This is a problem for brand-name products sold in China, such as iPhones or Nike running shoes.
What is called an “aging population”?
Time Bomb writes about the impact of an aging population on our planet. and pointed out that Why take action before it’s too late? Although all of us are getting older all the time. But the problem is that In the past several decades The fertility rate has dropped dramatically. and people live longer making people older in the world who are over 65 years old, both in terms of number and proportion to the total population, soaring
Currently, 35% of the population over 65 lives in developed countries. Japan has the oldest population of any country. As for South Korea, Hong Kong and Taiwan, the population is aging rapidly. In 2050, these 3 countries are expected to have the same condition as Japan.
Why is it important?
Time Bomb describes the problem of an aging population. will affect society in all aspects that the number of working-age population is declining resulting in lower revenues for the state States face increasingly difficult choices when making decisions. such as increasing the existing tax rate or a new way of collecting taxes The state may need to cut certain expenditures. or may need to increase the expenditure budget higher
Increasing the expenditure budget is the least painful method. whereby the government does not currently have immediate costs of expenditures It’s like taking the family out for dinner. and use a credit card to pay for food more government borrowing Is to transfer the burden of repayment to the next generation in the future. that they have no part in the decisions of the government but have to bear the burden of payment This issue is therefore about justice between generations.
justice between generations It is what determines the government to have fiscal discipline. In addition, in the event of an economic crisis a large budget deficit And the government has a lot of debt. will make the government less fiscal power to effectively deal with crises, such as reducing taxes or increasing expenditures
In the past ten years Countries with high public debt, such as Greece, Italy, Spain and Portugal, when faced with crises. The need for state loans resulting in higher interest rates because the risks are more If in a situation that requires international financial institutions to borrow It will lose fiscal sovereignty.
affecting the welfare of the state
Countries with an aging population making reforms to the public health system and social security became the first priority. The population of working age has decreased. means that the budget for various welfare projects It relies on more budget deficits, such as state pensions. For retirees over 65 years old
Time Bomb says the problem will become more serious. because of the rapid rate of aging of the population France is the first country where the population enters the aging population. That happened in 1865, but it took 145 years before France was already an aged country. At that time, there were more French people over 65 than under 16.
But for Japan, in 1960 Japan was the youngest populated G-7 country. But by 2008, Japan had become the country with the oldest population. and occupies this position until now Japan takes 1/3 of France’s time to transition from an aging society to an aging society. South Korea was an aged society in 1999 and an aged society in 2017.
Although Japan is known as a country with the world’s oldest population. But the country where its population is aging the fastest is South Korea. It took France 145 years to become a country with an aging population. Japan took 50 years, South Korea took 30.
Tackle the challenge before it’s late.
Analysts agree that Longer life expectancy coupled with the problem of declining population cause many effects on society The more people in society age rapidly. The more the government has less time and opportunities. to cope with this problem
Countries with large populations of working age The country’s economy grew from what is known as “Demographic dividend” But when the population gets older The number of workers is reduced what is the fruit of the population change to “Demographic tax” or “demographic burden”, which affects economic growth because in the future, the economy will rely mainly on growth on productivity. (Productivity) is not the number of more workers.
more aging population It also means the government has more expenditures. But the number of taxpayers is less. cause the state’s revenue to decrease The number of workers has decreased. It means the economy will be smaller. The study also found that people aged 65 and over will consume less. because it is a group of people with fixed income and the residual income is small
When the population is aging The proportion of the working-age population aged 16 to 64 to those aged 65 and over is shrinking from 1960 figures in Canada, a so-called dependency ratio of 9 to 1: nine working-age people. One person over the age of 65. In 2016, the figure dropped to 4.7 to 1 due to the rapidly aging population. By 2030, the ratio will be 2.5 to 1.
An economy with a declining labor population affect economic growth Causing everyone’s living standards to drop as well Less labor requires more productivity. to compensate for lost labor production to gain more value with the number of workers decreasing This means a big investment in modern production equipment.
for industrial business The decline in the working-age population means that Skilled and unskilled workers It’s a challenge to find a way to attract people to work. This was previously not a major business problem, but in the future, human resources will be more important than other factors of production, such as raw materials. The free movement of labor will become even more important. than protecting domestic workers
High-income developed countries are facing a rapidly aging population. that are affecting society in many ways, such as economic growth national fiscal policy Productivity the importance of human resources and the sustainability of the existing social infrastructure.
What is the main challenge for the country’s leaders is How to maintain sustainable economic growth? When the country is facing a raging storm This challenge includes Finding a way to improve the state’s welfare policy. that can meet the needs of the aging population The number of days is increasing.
documentation
Japan Has Millions of Empty House, Want to Buy One for $25,000, nytimes.com, 17 April 2023.
Time Bomb: How the aging population will transform our world and why we must act before it’s too late, Mark Adler, Independently Published, 2019.
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