World's birth rate continues to shrink, what does this mean?

지속 되는 인구저하, 앞으로 어떻게 될까?

The world's population growth is slowing down, as fertility rates drop in many countries, and the number of people in the world set to peak before the end of the century.
South Korea has the lowest birth rate among OECD countries, and saw the newborn count drop to a record low last year.
With concerns growing over future productivity and fiscal soundness going forward, we discuss what needs to be done to prepare for the demographic changes taking place and the ramifications that lie ahead.
For this we are joined by Professor Sangmi Chai of Ewha School of Business and Professor Peter McDonald from University of Melbourne today.
Good morning!

1. McDonald: Now, Professor McDonald, let us start with you. The UN's recent annual report on global population showed the number of people in the world grew at the slowest pace last year in over 7 decades. What led to the severe shrinkage last year?
2. Chai: Professor Chai... We thought South Korea's birthrate was as low as it could get, but over the past year, it outdid itself by falling to 0.81 child per woman. The Bank of Korea says this may have been due to the pandemic. Do you agree? What has been the impact of the global health crisis on the population?
3. McDonald: Professor McDonald, What has been the impact of the global health crisis on population growth? Which demographics were hit especially hard?
4. Chai: Professor Chai, Perceptions of marriage and having a family have changed with an increasing number of young Koreans saying they are prepared to forego getting married. Is this because they can't or won't get married, or both?
5. Chai: In South Korea, each family is entitled to 300,000 won per month until a child is 2 years old. The government on Tuesday announced that it would offer 700,000 won, or 520 U.S. dollars, a month until a child turns one, and increase the rate to one million won the following year. Are measures such as this enough to reverse the current childbirth trend?
6. McDonald: The UN projects over half of the estimated increase in the world's population will be concentrated in eight countries most of them in Southeast Asia and Africa. What major shifts to you expect will take place across the global economy, as a result?
7. Chai: We've heard for many years that South Korea is facing a demographic crisis which will threaten its productivity. We're already seeing schools close down, as student numbers dwindle. When and how will South Korea start feeling the impact of its declining population across its economy?
8. McDonald: How should governments prepare social spending for their elderly populations?
9. Chai: What are long-term measures that are needed to make young people feel secure enough to get married and raise children?

I'm afraid this is all the time we have for today. That was Professor Sangmi Chai of Ewha School of Business and Professor Peter McDonald from University of Melbourne.
Thank you for your time, we hope to speak to you again soon.

#Population #Fertility_Rate #Global_Insight

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2022-09-05, 08:00 (KST)