Poor Asian countries face an ageing crisis

It is a valuable tool used in the field of demography to analyse the changes in population dynamics and structure as a society. There are 4 stages in the transition model.

High Birth Rates and High Death Rates 

• Both birth and death rates are high
• Populations are small and stable

High Birth Rates and Falling Death Rates

• Birth rate remains high
• death rates start to decline
• Population growth accelerates

Falling Birth Rates and Low Death Rates 

• Birth rates decline & death rates remain low
• Population growth continues   

Low Birth Rates and Low Death Rates

• Birth and death rates are low
• Stable population growth

The impacts refer to the economic and social problems that ageing society face.

Labour Markets

• Shrinking Workforces with an expected 1/5 decrease in working-age population by 2055
• Vulnerable to big sectors, like agriculture

Social Costs 

• Pensioners falling into poverty. The pensioners in poor country are often unable to save adequately. There are fewer than 40% of the elderly who receive a pension
• Poor financial literacy, limiting what they can do with their saving

Health Care

• Overburdened & Their health care tends to be rudimentary

Family is a traditional source of elderly care in Asian culture. There is about less than 11% of elders live alone because they expect their children to take care of their parents.

Old women are worst affected. There are:

• likely to live more than 75 years old compared to 70 for men
• likely to live alone or in elderly home
• less educated than men with less earning and saving
• less financially independent and suffer more diseases

Hence, elderly care industry is booming in Asian countries now. 

It is a product of its development, reducing their fertility rate.

Causes:

• Industralisation, less time for meeting their soul mates 
• Changing social norms, eliminating the need for kids
• Better technology, significantly reducing accidents
• Health care, extending lifespan

Possible Solutions: 

• Ushering women into higher-paying jobs would help in reducing fertility rate, economic growth, and ageing population mitigation when they could contribute for their families 
• Extending official retirement ages can allow more ageing workers work past age 65 and above
• Affected countries need all the help they can get

Countries that are severely affected:

Thailand

• This year, 2023, every big part made promises to the elderly earlier during their general election.

Vietnam

• Vietnam passed a law on matters relating to the elderly way back in 2009

Unaffected Countries

• None of the unaffected countries are aware of the scale of the problem - they need to take much bolder steps