Around the world, fertility rates have been steadily declining, and it’s particularly true in Asian countries. How drastic are these changes, and what effects will they have on Asia’s traditional family and its economy? The Economist investigates.
Over the past fifty years the average fertility rate in Asia has gone down from 5.8 to 2.1. This is reflective of what is happening around the world, yet in Asia it’s much more noticeable. Since more than half of the world’s population comes from Asian countries, and the fertility rate is now below the replacement rate in East Asia, this could have serious financial impacts. While falling rates of fertility can be beneficial, as they produce higher standards of education and living, several problems can emerge when that number falls below the replacement rate. For example, there will be fewer people of working age and a decreased labor market.