Less than a decade ago Japan’s population was at 128 million. But now, with marriage in steep decline and a plummeting birth rate, Japan expects to lose about one million people per year. This is nothing short of a disaster.
Now, the government estimates that within less than 50 years, Japan will have less than 90 million people, and about half of them will be over 65.
That, my friends, is an economic death spiral as the country will simply not have enough workers to support its retirees.
But still, the birth rate languishes at about 1.4. That’s a lot less than the 2.1 rate that would act just to replace people. And it’s been like that for a while. The birth rate hasn’t been at the replacement rate since the 1970’s.
The government has begun dating services and held parties for singles in an effort to increase marriage and birth rates. But it doesn’t seem to be having much effect as of yet.
This demographic disaster will have a calamitous effect on the world economy and is an indicator of things to come in other parts of the world which for many reasons simply refuses to have babies.