Ageing populations will drag on growth in Asia: IMF chief
The chief of the International Monetary Fund warned Thursday that ageing populations in key Asian economies will drag on their growth, urging policymakers to step up their response to shifting demographics.
Studies show that Asia’s population is ageing faster than anywhere else in the world, with Japan forecast to become the first “ultra-aged” country, meaning 28 percent of the population is 65 or over, while a fifth of the people in South Korea are expected to be 65 by 2030.
Rapidly ageing countries including China, Japan, Korea, and Thailand “will have smaller workforces in the future and potentially lower productivity growth”, IMF managing director Christine Lagarde told a conference in Seoul.
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