Japan's Demographic Outlook

Research by Mckinsey shows that, by 2040, the share of the Japan's population aged over 65 will reach 36%, or around 40 million people. This is the most important factor driving the Abenomics policy program and, as previously discussed, makes it all the more necessary to push forward with reforms now, rather than wait and face the testier problem of getting support from a increasingly aged populace in the future, which may be more conservative about passing reforms - particularly to the welfare state.

Source: McKinsey Quarterly: Japan: Lessons from a hyper-aging society, March 2015

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