Immigration, and change the work culture to reduce the amount of time at your job.
Japan needs people, and they're not having babies.
They need time to socialize, they need time to relax, they need time to just exist outside of a job.
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Immigration, and change the work culture to reduce the amount of time at your job.
Japan needs people, and they're not having babies.
They need time to socialize, they need time to relax, they need time to just exist outside of a job.
It's nothing to do with Japan, really. It's about India and its economy slowly clawing its way up from its historically low base. Note that India's GDP per capita is still well below the global average (and Japan's is well above).
Read the article again. Japan has a slower economic growth than the world average.
This is from a number of factors, including that they are a highly developed economy with less head room, BUT also because the workforce is aging out. They have fewer young people.
https://en.m.wikipedia.org/wiki/Demographics_of_Japan
They have a declining population, and the median age is much older than most countries. This is absolutely a major reason for their lack of economic growth.
Irrelevant. Because of India's population, the only way for it not to eventually surpass Japan in total GDP is for India to remain perpetually mired in backwardness. Since the 1990s, India has undergone successive rounds of economic liberalization, thereby achieving catch-up growth. All that stuff with Japanese demographics, bad management, etc. are secondary factors. Even if all the factors for Japan had been more favorable, it would only have postponed the day of overtake by a few years.
There are two ways to increase productivity. You can work more hours or you can work more efficiently. Japan has spent the last few decades increasing hours worked while never improving efficiency. Other Asian countries are growing their economies by building modern factories with the latest machines and tools. Japan won't let go of their fax machines and stamps.
Don't worry Japan at least you don't live in India.
The world has too much focus on GDP (and even GDP per capita). Japan is lovely and I'm sure the Japanese people love that. Though their work live balance needs a fix.
Japanese companies optimised the time their workers spend working. But looking at the entire country this is actually a terrible development.
I'm sure the average Japanese person really gives a flying fuck...