Demographic growth in Asia set stop by 2050, according to IMF officials. If correct, major changes in either immigration are in order, or a restructuring of regional (and domestic) economies. Story here.
“Asian policymakers could tackle such demographic challenges through reforms to curb health care and pension system costs, providing tax incentives to raise labor force participation, and compiling credible medium-term fiscal plans to ensure debt sustainability…
“Experience shows that it is important to adapt fiscal policies before aging sets in. This should occur at a gradual pace in order to spread the burden across generations and to avoid policy reversals,” [Sanjeev Gupta, deputy director of the IMF’s fiscal affairs department] said.