ML-Implode News - Parts of Asia Will Grow Old Before Getting Rich, IMF Warns

The population growth rate will fall to zero for Asia by 2050 -- it's already negative in Japan -- and the share of the population who are working-age has already hit its peak, the IMF estimates. That means the ratio of the population aged 65 and older will be almost two and a half times the current level by 2050, and even higher in East Asia.
"The speed of aging is especially remarkable compared to the historical experience in Europe and the United States," the IMF said. Per capita income in Asia relative to the U.S. remains at much lower levels than those achieved by mature advanced economies in the past.
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For economic growth, the aging process could erode up to one percentage point from annual output over the next three decades in Japan, and between 0.5-0.75 percentage point in China, Hong Kong, South Korea and Thailand. While some bright spots remain, such as India and Indonesia, demographics could subtract 0.1 of a percentage point from annual global growth over the next three decades, the IMF estimates.
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It also means Asia is at risk of falling into secular stagnation if an older population leads to excessive savings and low investment renders monetary policy ineffective. The demographic shift will also likely keep downward pressure on real interest rates and asset returns for most major countries in Asia, the IMF said.

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Parts of Asia Will Grow Old Before Getting Rich, IMF Warns