The Impact of Demographic Change on Labor Supply and Economic Growth: Can Asia Meet the Challenge Ahead?
Some member-nations of the Asia Pacific Economic Cooperation (APEC) will see their working-age population grow or slightly decline by 2050; others will see them shrink. Several APEC countries rely on migration to expand their labor force and GDP. The labor force participation rates among people aged 50-64 and women aged 15-64 are expected to rise in almost all APEC member countries by 2050, and affect the growth in GDP per worker. Policies should focus on migration, resolving bilateral issues, the health and training of elderly workers, child care, and gender wage gap.