The phenomenon occurs when the median age of the region or the country rises due to the declining fertility rates and rising life expectancy. It is the shift in the distribution of the population of the different countries towards the older age. It usually reflect the increase in the population median or the mean age rise in the proportion of the population that is elderly and a decline in the proportion of the population composed of children. It is the process of becoming older; in the narrow sense this term refer to the aging of the human beings and the other organisms including the animals.
Population Aging in United Stare:
Like the rest of the world, this country is an aging society. This country place the additional substantial pressure on the publicly funded health and the other income support programs for the people of the older age. That is the reason that in this country people spend large portion of their incomes on the health care. Between from 2000 to 2050 large number of people is projected by the increase of 135% the age of the population of this country is 85 and over, which is the sector that likely need long-term health care is projected with the 350% increase. With passing the time large portion of the population that is over the age in 2000 with the increase of 65 from 12.7 percent in this year to 20.3% in the 2050.
An important portion of the population of this country is elderly, Europe also have the large portion of the elder people that are over the age of 65 years. For example in 2000 in United Kingdom about 16.0 % of the population and about 16.4% population of Germany is over the age of 65. Other countries have the cope with the impact of the aging society greater than the united State. (Joshua M Wiener, 2002)
Population Aging of Japan:
Agiging population of Japan is outweighing to all of the other nations, the population of this country is highly purported to the large portion of the elder citizens. About 33.0% people are above the age of 60 and about 25.9% people are above the age of 65 years. In the same way, the people who are above the age of 75 years are 12.5 percent. Health ministry of Japan estimate that the total population of the nations will fall by the 25% in 2005 from 127.8 million, to 95.2 million in 2050. Elder population of this country age is 65 or older a percentage to forecast to increase 38% by the 2055. The government of Japan has warned that 2060 about 40% of the population will be aged 65 percent or more. The estimated population of Japanese newborn in 2014 fell to just about 1.001 million compared with the 1.269 million registered deaths that was ever recorded lowest birth rate. (Bajekal, 2015)
Comparison of the population aging of Different countries
The countries that are most affected by the aging population are Japan, S. Korea, China Germany, Spain, Russia France and many of the other countries. Aging population is the social burden and looming economic especially in there Northeast Asia and in Europe and lesser extent in the United State. The allocation of the scarce resources pay for the health and pension care of the elderly prove the defining issue around the world for the coming decades.
Some of the countries are less worried than most of the Asian or the European countries that reflect the demographic reality that the population of the United State is aging more slowly. Demographic measure of the economic impact of the aging is by the old age dependency ratio. In all around the worlds especially in Japan, the rate of the aging population is high in Japan where the United Nations project elderly for the Japanese of the 100 working age. In some of the countries it is the issue that most of the countries are facing, all of the aging societies are facing the some of the challenges. (STOKES, 2014)
Why it is the Important Issue?
Aging population is the important issue in most of the countries, because due to this issue people of these countries have to spend large amounts on the healthcare. This thing affect negatively to the economy of that country. People belonging to the different income segments spend the large portion of income on their healths. Increase in the ratio of the dependency, the retirement age of the people remains fixed but the life expectancy of the people is going to increase. Large number of people claims about the benefits of the pensions and the less people paying and working income taxes.
This fear requires the high tax rate on the shrinking workforce or the taxes on the current. With this, the government spending on the pensions or the health care is going to increase. The retirements tend to the low income taxes because they are not working. This combination of the lower taxes and higher spending commitments is the source of concern for the governments of Western especially in the existing debt issues.
An aging population is leading to the shortage of the workers and hence pushing the wages that causing the inflation in wages. These are the different reasons due to which aging population is becoming the important issue in the world, due to all these reasons the economy of all the countries is negatively affecting. (Pettinger, 2013)
Challenges that the World have:
Due to the aging population different countries faces the different challenges, for controlling these challenges different countries make the different strategies. About 1.7 million pensioners are leading the life of the poverty with the half of the Pakistani and Bangladesh and the quarter of the black Caribbean older people. A large number of people are living in the non-decent housing affecting the size of heating bill also on their health. Large number of the cares was forced last year to out of the workforce because they are not able to work flexibility.
For solving, the issues of the aging population different countries use the different solutions, because this issue is greatly affecting the economies of the countries in the negative way. The use of the technology is one of the key factors that are addressing the issue of the aging population. A;; of the countries find the solutions according to the problem , countries have to increase the number of the foreign workers and also have the more babies for solving this issue.
Bajekal, N. (2015). Japan’s Aging Population Woes Worsen with New Record Low Birth-Rate in 2014. Retrieved december 9, 2015, from http://time.com/3651799/japan-birth-rate-population-shrinking/
Joshua M Wiener, J. T. (2002). Population ageing in the United States of America: implications for public programmes. Retrieved DECEMBER 9, 2015, from http://ije.oxfordjournals.org/content/31/4/776.full
Pettinger, T. (2013). The Impact of an Ageing Population on the Economy. Retrieved december 9, 2015, from http://www.economicshelp.org/blog/8950/society/impact-ageing-population-economy/
STOKES, B. (2014). The countries that will be most impacted by aging population. Retrieved december 9, 2015, from http://www.pewresearch.org/fact-tank/2014/02/04/the-countries-that-will-be-most-impacted-by-aging-population/