East Asia's four largest economies are threatened with a declining population, threatening their long-term competitiveness.Reversing this trend through increased births seems unlikely given how the region's fertility rates are trending, University of Wisconsin-Madison researcher Yi Fuxian told Newsweek.Shrinking, rapidly aging populations like those in this region lead to smaller workforces, higher dependency ratios, and increased pressure on public services and pension systems.
Yi said the country is following in the footsteps of Japan, whose efforts to boost births proved both expensive and ineffective. Yet China, which is 'getting old before it gets rich,' lacks sufficient financial resources to fully follow Japan's path, he said.China's population declined again in 2023, with more deaths than births for the seventh consecutive year. And the proportion of seniors is projected to more than double by midcentury.
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