Concerned over the trend of declining birthrates, particularly pronounced in East Asia, governments are scrambling to address the repercussions of an ageing population and deepening labour shortages.
The region, encompassing countries like South Korea, China, Japan, Taiwan, and Singapore, faces a critical juncture as fertility rates plummet, posing profound economic challenges and societal shifts.
South Korea, already grappling with one of the lowest fertility rates globally, witnessed a further 8 percent decline in its birth rate in 2023, exacerbating concerns over its demographic trajectory.
Statistics Korea's data revealed a stark reality, with the country's birth rate plummeting to 0.72 from the previous year's 0.78, fueling apprehensions of a potential halving of the population by 2100 if the current trend persists.
This alarming trend isn't exclusive to South Korea; rather, it's symptomatic of a broader regional phenomenon.
According to a 2023 CIA report, East Asia boasts the world's lowest birthrates, with countries like Taiwan registering a dismal 1.09, followed closely by Singapore and Hong Kong with rates of 1.17 and 1.23, respectively.
China, despite revising its stringent one-child policy, grapples with a birthrate of merely 1.45, while Japan, a long-standing victim of population ageing, struggles with a rate of 1.39.
Experts attribute this decline to a myriad of factors, including economic prosperity, educational advancements, and shifting societal norms.
The East-West Center elucidates that reduced child mortality rates and increased longevity have altered familial dynamics, leading to a preference for smaller families.
Moreover, the proliferation of educational opportunities for women has empowered them to challenge traditional gender roles, often deterring marriage and childbearing.
However, Ayo Wahlberg, a professor at the University of Copenhagen, contends that the explanation is incomplete, emphasising the burdens imposed on both men and women by demanding work cultures.
In countries like China and South Korea, gruelling work hours under the "996 working hour system" leave little room for familial responsibilities, exacerbating the challenge of balancing work and childcare.
Gender disparities in caregiving responsibilities exacerbate the issue, with women bearing the brunt of household chores and childcare duties.
Discrimination against pregnant women in the workplace further discourages motherhood, perpetuating gender inequalities.
The ramifications of declining birthrates are far-reaching, with implications extending beyond demographic shifts to economic stagnation and social welfare strains.
Governments are confronted with the imperative of devising comprehensive strategies to reverse the trend, including incentivizing parenthood through financial subsidies and investing in childcare infrastructure.
In Japan, Prime Minister Fumio Kishida has prioritised addressing the sliding birthrate, pledging significant investments in childcare and support measures for parents.
Similarly, South Korea has allocated substantial funds towards childcare subsidies to encourage family growth. However, the efficacy of such initiatives remains uncertain amidst entrenched cultural norms and economic realities.
Policymakers in these countries now face an uphill battle in navigating the delicate balance between economic stability and demographic sustainability.
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