Japan is one of the world's most rapidly ageing countries.
According to statistics, 23 percent of its population of about
120 million people was aged above 65 in 2010. By 2055, this
percentage is expected to double. The country's woes do not stop
there. Japan's population is also shrinking at a negative
compounded annual growth rate of a half-percent each year. Its
total fertility rate is 1.3, far below the replacement rate.
Likewise, Singapore suffers from similar problems. While Japan
has the world's most aged population, Singapore's population is
among those ageing fastest in Asia. In Singapore, the percentage
of people aged over 65 will double to 20 percent of the
population by 2030. The nation’s fertility rate last year is a
meagre 1.2. Both countries — two of the most developed in Asia —
share interesting parallels when it comes to demographic trends.
Japan started grappling with the burden of a greying population
in the 1970s, 30 years before this issue emerged proper in
Singapore. Given that Singapore