“Singapore (and many other countries) are going extinct,” tech titan Elon Musk tweeted, tech magnate Elon Musk had tweeted, spotlighting a critical issue troubling various Asian countries — decreasing fertility rates and an increase in elderly populations.
Musk, who has encouraged individuals to increase birth rates to avert a worldwide population decline, was reacting to a piece about Singapore’s “baby crisis.” The trend has been reflected in nations such as South Korea, Japan, Hong Kong, and China. India is similarly heading down a troubling path.
The situation has led governments to invest billions in initiatives aimed at encouraging women to bear more children, while technologically advanced Singapore has resorted to robots to fill the labor shortage.
Until the 1970s, women in nations such as South Korea, Japan, and China had an average of more than five children. Currently, on average, each woman is having less than one child in these nations. Nonetheless, global fertility rates have diminished over the past 70 years, experiencing a decline of 50%.
What do the trends mean
The scenario is particularly alarming in South Korea, Japan, and Singapore. Although South Korea’s fertility rate has fallen to an all-time low of 0.72 children per woman, it has decreased to 0.97 in Singapore. Japan has earned the title of the fastest-ageing nation globally, marking its lowest fertility rate since 1947.
In South Korea, the “three giving-up” generation is held responsible for declining birth rates, describing women in their 20s and 30s who have ceased dating, marriage, and childbearing, primarily because of financial strains and rising housing expenses.
This has corresponded with the marriage rate in the nation declining to 5.5%, and an increase in the demographic aged over 65, according to a report by Lancet. Approximately 19.5% or about 10 million of South Korea’s 51.6 million population is aged 65 and older.
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Specialists have cautioned that South Korea’s population might shrink to half by 2100 if the current trend persists.
In Singapore, the birth rate has similarly reached a low point, as government statistics show that an increasing number of women in their peak childbearing years (25–34) are opting to stay single. With a rate of 0.97, fertility is significantly lower than the 2.1 required to maintain a population.
Adding to Singapore’s challenges is a United Nations report predicting that the senior citizen population will rise to 24% in just six years. This has positioned Singapore to potentially turn into a “super-aged society” similar to Japan.
