The BBC has some dark news about the most productive nation in Asia.
A dwindling birth rate is expected to cut Japan's population by 30% over the next 50 years, a survey by the government has said. The report says the current population of about 127m is projected to sink below 90m by 2055. By that date the proportion of the population aged above 65 is set to double to 40.5%
One thing that Japan is not producing is children. What it is producing are retirees. This has ominous implications for the future. But never worry!
Chief Cabinet Secretary Yasuhisa Shiozaki said: "It's impossible for the pension system to collapse due to the declining birth rate because we will adjust the amount of money put into it."
Mr. Shiozaki is confused. Money is merely a title to wealth; it is not wealth itself. Wealth is produced by people, and people are produced only when people have babies.
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