Asia's demographic growing pains

Leaving aside Japan, Australia and New Zealand, which have 'aged' - defined as a doubling of the over 65s as a share of the total population to 14 per cent - over half a century or more, most other countries are ageing much faster, that is, over 20-25 years. On average, Asia still falls short of the 7 per cent threshold of over 65s as a share of the population, but the United States Census Bureau estimates that by 2060 42 of the 52 countries in Asia will have broken through the 14 per cent level. Asia has ageing hares, like Japan, China and South Korea, as well as tortoises, like India and Indonesia, and offers a disparate group of countries with different ageing conditions and varying capacities to address the effects. Japan's tentative opening to higher immigration is notable, but no other countries can look to immigration as a viable contributor to the ageing challenge. Male labour force participation rates tend to be high at 85-90 per cent, but female rates range from about 30 per cent in Southern Asia to over 80 per cent in parts of East Asia. Countries will have to raise the age of pension eligibility to help sustain the working-age population and secure the viability of pension systems. Countries with flexible social, political and economic institutions, and more ambitious age-related agendas, will come of age more successfully.