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Overtaken by Age?

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Overtaken by Age?-Ageing Nations
When nations are changing because its population grows old...
By Stephanie Scherzer M2Di interational Fashion and Management Semester 4

Overtaken by Age?Ageing Nations

AGE OvERTAKES uS ALL; OuR TEMPLES FIRST; THEN ON O’ER CHEEK AND CHIN, SLOWLy AND SuRELy, CREEP THE FROSTS OF TIME. uP AND DO SOMEWHAT, ERE THy LIMBS ARE SERE. THEOCRITuS, “THE LOvE OF THyONICHuS” When nations are changing because its population grows old...

The world’s fertility rate declines. Less people have children and if they have, then just in very low numbers. The fertility rate is the number of children a woman can expect to have. Half as many children as in 1955 are being born today (The Economist Oct 2011). After WW II there has been a steep surge in birth rates. These so called Baby Boomers, children born after 1946, are retired by now. Altogether they form a big group of not-working people against a becomingsmaller working group. Another reason why the working force is getting smaller is that the age for young people of entering the labour market is getting higher because of increasing education length. The chart shows that the following nations have more than 10% decline in workforce population; Switzerland, the Netherlands, Austria, Hungary, Italy, Portugal, Poland, South Korea, Russia, Japan and Germany. Furthermore the growing life expectancy and the falling birth rates since 1970 contribute to the ageing of our today’s society. This downturn will not stop in the future it will even become worse. By 2030 there will be more retirees needing pension than working people able to cover it. In Japan and China the situation already looks very peaky. With their artificial birth rate control system from the past they managed to reduce their fertility rate, but they did not think of any consequences. Today there are six working people covering for one

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