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Monday, May 05, 2008

Japan: Becoming a "No Young Man's land"

In Asia, where most of the countries are facing problems with high birth rate and growth rate, Japan is going through a different problem. Because of its declining child birth rate, the number of young people in Japan is going down. As a result, the number of aged people are increasing and creating pressure on the government for payment of pension and debts of the country. This has also resulted into a decline in social security. Bloomberg.com reports:

The number of Japanese younger than 15 dropped 0.7 percent from a year earlier to 17.25 million as of April 1, the nation's Statistics Bureau said in a statement yesterday. Children are a record low 13.5 percent of the population, down from 13.6 percent.

A shrinking pool of workers and taxpayers in the world's second-largest economy increases the burden on the government to fund its pension system and repay debt. Japan has the world's highest ratio of people older than 65.

Another major problem in Japan is its high suicide rate. At every 15 minutes, one people in Japan commit suicide. The country has the ninth highest suicide rate in the world. This also claims lives of many young people.

I live in Bangladesh, one of the most densely populated countries in the world, where suffering and hardship is a common thing. On the other hand, in spite of being a developed country, Japan is suffering for its population. It looks like being developed does not mean the end of all problems.

Related article:

Bloomberg.com

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