Many countries around the world are starting to become aging societies. In other words, there are more old people AND fewer people having babies. This demographic shift has important implications on the economy and politics of a country. The question is, what do we do about it?

The International Monetary Fund (IMF) recently published a report titled ‘The Rise of the Silver Economy: Global Implications of Population Aging.’ In it, they propose that governments consider raising the retirement age and encouraging people to work until the age of 70. They say this is what will help countries sustain economic growth. 

But is that the right approach? 

We speak to Prof Peter Beattie, Political Economist & Political Psychologist, Chinese University of Hong Kong (CUHK). 

Image Credit: Shutterstock

Produced by: Dashran Yohan

Presented by: Dashran Yohan

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Categories:  international,  controversies,  government,  economy

Tags:  low birth rate,  pension systems,  the bigger picture,  beyond the ballot box,  international monetary fund,  silver economy,  aging population,  retirement age,  longevity,  fertility rates,  economic growth,  healthcare costs,