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Baby boom was absent or not very strong in Italy, Greece, Portugal and Spain. [19] There were however regional variations in Spain, with a considerable baby boom occurring in regions such as Catalonia. [34]
By the mid-2010s, sub-replacement fertility and growing life expectancy meant that Canada had an aging population. [69] Statistics Canada reported in 2015 that for the first time in Canadian history, more people were aged 65 and over than people below the age of 15. One in six Canadians was above the age of 65 in July 2015. [70] Projections by Statistics Canada suggest this gap will only increase in the next 40 years. Economist and demographer David Foot from the University of Toronto told CBC that policymakers have ignored this trend for decades. With the massive baby-boom generation entering retirement, economic growth will be slower and demand for social support will rise. This will significantly alter the Canadian economy. Nevertheless, Canada remained the second-youngest G7 nation, as of 2015. [69] U.S. adult demographic cohorts in 2019 According to the National Development Council of Taiwan, the nation's population could start shrinking by 2022 and the number of people of working age could fall 10% by 2027. About half of Taiwanese would be aged 50 or over by 2034. [56] At the current rate, Taiwan is set to transition from an aged to super-aged society, where 21% of the population is over 65 years of age, in eight years, compared to seven years for Singapore, eight years for South Korea, 11 years for Japan, 14 for the United States, 29 for France, and 51 for the United Kingdom. [57]Japan at present has one of the oldest populations in the world and persistently subreplacement fertility, currently 1.4 per woman. Japan's population peaked in 2017. Forecasts suggest that the elderly will make up 35% of Japan's population by 2040. [58] As of 2018, Japan was already a super-aged society, [59] with 27% of its people being older than 65 years. [60] According to government data, Japan's total fertility rate was 1.43 in 2017. [61] According to the Institute for Health Metrics and Evaluation, University of Washington, Japan has one of the oldest populations in the world, with a median age of 47 years in 2017. [62] They benefitted from large discounts on council houses, resulting in a rapid expansion in home ownership; sales peaked in 1982 to 1983 with 182,171 homes sold over 12 months in England and Wales. People turning 70 in 1990 were in their early 60s at that time and would have found it more difficult to secure a mortgage. Westoff, Charles F.; Jones, Elise F. (1979). "The end of "Catholic" fertility". Demography. 16 (2): 209–217. doi: 10.2307/2061139. JSTOR 2061139. PMID 456702. According to the Organization for Economic Cooperation and Development (OECD), elders in nations where people typically retire late like Sweden and Switzerland tended to experience memory loss at a rate twice as slow as their counterparts from countries where people usually retire early, such as France. Evidence suggests that those who remain mentally active are more likely to maintain their faculties. [143]
The experimentation with marijuana and psychedelic drugs spearheaded by some of the baby boomers in their youth has continued to present day, leading in some countries to re-evaluation of these substances as useful medicinal and psychotherapeutic tools. [177] [178] By the mid-2010s, it has already become apparent that China was facing a serious demographic crisis as the population of retirees boomed while the number of working-age people shrank. This poses serious challenges for any attempts to implement social support for the elderly and imposes constraints on China's future economic prospects. [137] In 2018, about 17.8% of China's population, or around 250 million people, was at least 60 years old. The Central Government has been considering raising the retirement age, like many other countries have done, though this is controversial among the Chinese public, who dislike postponing their pensions. As of 2020, China's retirement age is 60 for men and 55 for women working for the government or in other white-collar jobs. But China's demography is such that the nation's pension funds will be "insolvent" by 2035 if current trends continue, according to an official report. [144] The increase may have been partly due to legislation coming into force in 2011, which prevented employers from compulsorily retiring workers once they reach 65. Between 1960 and 1975, the Chinese mainland's growth was fast, but lagged behind the growth of Japan and the rise of the Four Asian Tigers ( South Korea, Taiwan, Hong Kong, and Singapore) grew even faster. [83]
a b Turchin, Peter (February 3, 2010). "Political instability may be a contributor in the coming decade". Nature. 403 (7281): 608. Bibcode: 2010Natur.463..608T. doi: 10.1038/463608a. PMID 20130632. The effects of lower births won't be felt for decades," PwC said. "But if the pandemic causes a permanent decline in births, the long-term challenges associated with the UK's ageing population could be brought forward."
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