In demographics the units of time are generations. It takes several of them for the effects of shock to be fully felt because generations overlap, about a century.
Japan's TFR fell below replacement around 1973, iirc. So we should wait at least till 2070 before making assertions about the severity or otherwise of the issue. In the mean time, it sure looks serious.
Japan has been propping up its economy with debt. It has the highest public debt to GDP ratio in the world. Is that sustainable if interest rates climb? I don't know.
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In demographics the units of time are generations. It takes several of them for the effects of shock to be fully felt because generations overlap, about a century.
Japan's TFR fell below replacement around 1973, iirc. So we should wait at least till 2070 before making assertions about the severity or otherwise of the issue. In the mean time, it sure looks serious.
Japan has been propping up its economy with debt. It has the highest public debt to GDP ratio in the world. Is that sustainable if interest rates climb? I don't know.