TOKYO, Japan - Aging populations could be a boon to economies in the Asia and Pacific region if governments adopt technology policies that improve elderly people's health, extend skills and working lives, and facilitate job matching, according to a new report from the Asian Development Bank (ADB). The Asian Economic Integration Report 2019/2020 (AEIR): Demographic Change, Productivity, and the Role of Technology reviews Asia and the Pacific's progress in regional cooperation and integration. The report features a special chapter on the role and potential of technology in boosting the productivity of aging economies. "The aging trend is irreversible in much of Asia and the Pacific, but governments could turn that into a 'silver dividend'," ADB Chief Economist Yasuyuki Sawada said Wednesday. "Today's elderly are better educated and healthier than in the past. The right policies on technologies could extend working lives, generating a substantial contribution to the overall economy." The average healthy life span increased by nearly 7 years from 57.2 to 63.8 years between 1990 and 2017 for the economies in Asia and the Pacific. The average years of education among 55 to 64-year-old people also increased from 4.6 in 1990 to 7.8 in 2015. Exact measures that should be taken depend on an economy's specific aging and education profile but broadly one of four types: fast or slow aging and above or below median education levels...Read more
Big News Network l Thursday, November 14, 2019
Elderly people, a silver lining to economic prosperity?