Demographics and Aging Population

Global Aging Population

• The global population aged over 60 years is projected to reach 1.2 billion by 2025, up from approximately 600 million by the end of the 20th century.

Australian Demographics

• Between 2002 and 2022, the number of 15 to 19 year olds in Western Australia increased by approximately 10,000.
• In the same period, the number of individuals aged between 50 and 59 years old increased by 110,000 (Australian Bureau of Statistics).

Workforce Growth

• The working-age population in the early 21st century grew by around 170,000 per year.
• By the end of the 2020s, the increase in workforce growth dropped to an average of less than 13,000 per year (Access Economics).

Demographic Transition

• The demographic transition refers to the process of population growth, from low to high to low population growth.
• The demographic transition took about a century in Europe, but has proceeded more rapidly in other countries since World War II.
• China has made its demographic transition under unusual circumstances and in less than 20 years.

China's Population Growth Rate

• China's annual population growth rate was 0.53% in 2017 and dropped to 0.38% in 2018.
• The world average population growth rate is 1.16%.

Increase in Lifespan

• The 20th century saw a significant increase in lifespan, exceeding the progress made in the previous 5000 years of human history.
• In China, government policies, particularly the One-Child Policy, played a crucial role in this increase.

China's Population Control

• China's first modern census in 1953 recorded a population of 594 million.
• The government initiated family planning, which was later abandoned, but rigorously started in the 1970s.
• The total fertility rate was cut in half from 5.8 in 1970 to 2.7 in 1978.
• The One-Child Policy led to a reduction of 0.4 billion people in the population.

Population Demographics

• The average ratio of boys to girls born is 106:100, with China's ratio being around 108:100 in the 1960s and 1970s.
• By the end of 2018, 11.9% of China's population was 65 years and older, and 17.9% was 60 years and older.
• By 2050, 35% of China's population is expected to be 60 and older, and 22.9% will be 65 and older.

Impact of Aging on Economy

• A favorable population structure helped China create conditions for high potential growth.
• However, the negative growth in the working-age population will lead to a labor shortage, weakening China's industry.

Solutions to Aging Population

• Immigration
• Improved fertility rates
• Improved aging
• Increased age for retirement

Positive Impacts of Aging

• Research until the 1970s focused on negative impacts of aging, such as disease and cognitive decline.
• Emerging research highlights the positive impacts of aging, emphasizing the importance of investing in aging well.

Successful Ageing

• Concerns itself with maximizing function, minimizing morbidity, and maintaining well-being.
• Defined as the ability to maintain low risk of disease or disability, high mental and physical function, and active engagement with life.