A World Grappling with Shrinking and Aging Populations

A World Facing Population Decline and Aging

Across the globe, countries are grappling with the twin challenges of population decline and aging. Younger generations are choosing to have fewer children, while advances in healthcare are extending life expectancy. This demographic shift has significant implications for economies, social structures, and government policies.

In China, the population has fallen for three consecutive years, dropping by nearly 1.4 million in 2024. Japan's population has been declining for 15 years, and South Korea's growth turned negative in 2021. Italy's birth rate has fallen below 400,000 for the first time since the 19th century.

The United Nations estimates that the population has peaked in 63 countries and territories, with another 48 expected to reach their peak within the next 30 years. While the global population of 8.2 billion is still growing, the UN projects it will reach 10.3 billion in 60 years and then begin to decline.

This demographic trend has prompted governments to offer financial incentives to encourage people to have children. In Japan, the government has called the situation "critical" and sees the next six years as the last chance to reverse the trend. The country's population is projected to fall to 87 million by 2070, with four out of every ten people being 65 or older.

China's aging population could also pose challenges for economic growth and government resources. The government is raising the retirement age over the next 15 years to address this issue.

In Italy, the government is aiming for at least 500,000 births annually by 2033 to prevent economic collapse. The country's birth rate has fallen steadily due to factors such as a lack of affordable childcare, low salaries, and a tradition of women caring for older parents.

South Korea's population rebounded slightly in 2023 due to an influx of foreigners, but the birth rate continues to decline. The high cost of raising children and a patriarchal culture that burdens women with childcare responsibilities are contributing factors.

The global trend of population decline and aging presents significant challenges for governments and societies. Addressing these challenges will require comprehensive policies that support families, promote economic growth, and ensure adequate resources for an aging population.