Why China’s shrinking population is a big deal – counting the social, economic and political costs of an aging, smaller society
The ConversationAPR 2023
Japan, once the poster child for population decline, is now just one of many developed countries that are facing population collapse thanks to shrinking fertility rates. Indeed, underpopulation, not overpopulation, is becoming the most pressing demographic threat to humanity. This will force countries like Japan — a harbinger of what the rest of the world will face — to adopt higher taxes, push back the retirement age, and face an intractable economic decline.
A declining population is not a one-way ticket to economic collapse, as dire predictions with regard to population trends fail to reflect reality. People in developed countries like Japan without children are simply making tradeoffs, as a declining birth rate is offset by a meteoric rise in life expectancy. A shift away from a mindset of endless growth and toward quality of life will have a beneficial impact on the environment and our well-being. There's no need to panic, as this time of change will bring as many opportunities as challenges.