Taiwan has a rapidly aging population and it poses a great threat to future growth and economic prosperity.
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It has been since 1984, from when Taiwan has had a fertility rate of over 2.0, the minimum amount for population replacement. Previous to 1984, Taiwan's demographics were high birth rate high death rate, and as time past, there has been a transition to a low birth and death rate society. The prerequisites for this movement were low mortality rates, declining fertility and rising levels of economic and educational growth that Taiwan was experiencing (Gapminder).
As technology, education and human rights increased, the fertility rates declined. Looking at the figure on the left, there is a massive drop from 1975 to 1980. This can be attributed to the "Taiwanese Miracle", the rapid industrialization and modernization period Taiwan was undergoing (Ministry of the Interior).
As technology, education and human rights increased, the fertility rates declined. Looking at the figure on the left, there is a massive drop from 1975 to 1980. This can be attributed to the "Taiwanese Miracle", the rapid industrialization and modernization period Taiwan was undergoing (Ministry of the Interior).
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Taiwan's fertility rate in comparison to other countries around the world.
Today, the current fertility rate of Taiwan is 1.1, giving Taiwan one of the lowest fertility rates in the world. The rate of population growth will continue to stay extremely low, but government officials now worry for the effects of an aging population. According to BBC news, recent surveys have shown that increasing amounts of women are now turning away from motherhood. This is contributed by the rise in education for females and the financial burden of having children.
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This is a projected pyramid chart of Taiwan's age structure population. Following the current trajectories, Taiwan is heading towards a clear aging population, with the amount of retirees outnumbering infants 2:1. (U.S Census Bureau).
Impacts
The trajectory of Taiwan's demographics are due to the longevity and low birth rates, a combination which is leading Taiwan towards a demographic imbalance. With an aging population, Taiwan's government has to focus its funds toward labor pension funds and health care. This is a big challenge for Taiwan as the pension funds are already heavily in debt and possibly bankrupt within 18 years and healthcare funds are in the red by about US$1.5 billion (China Times).
The economic impacts are also effecting the culture of Taiwanese families, where the offspring would take care of the elderly. Due to rising elderly population, children are increasingly departing to larger cities and migrating to foreign counties leaving their parents behind without adequate financial support (National Policy Foundation of Taiwan).
The economic impacts are also effecting the culture of Taiwanese families, where the offspring would take care of the elderly. Due to rising elderly population, children are increasingly departing to larger cities and migrating to foreign counties leaving their parents behind without adequate financial support (National Policy Foundation of Taiwan).