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Asia’s demographic growing pains
It is often said that demographics are destiny, but at a macroeconomic level, ageing societies do not need to turn into the economic graveyards that pessimists assert they will. There are important, if limited, coping mechanisms to deal with the predicted stagnation or fall in the working-age population that most countries will face sooner or later. Public policymakers could aim to raise immigration, boost the labour force participation rates of older workers and women and crank up productivity growth. Several Asian states will have to consider these options much more carefully if they are to adapt, stabilise the ... (full story)