At the present time, the population of
some countries includes a relatively large number of young adults, compared
with the number of older people. Do the advantage of this situation outweigh
the disadvantages?
The
average age of the population for many nations around the world has been in
decline in recent decades creating a situation where young people have become
the world’s largest demographic, particularly in developing nations. Although
there are decided drawbacks to this phenomenon related to expertise in the
workforce, it is still a positive development because it will lead to booming
economies in the coming years.
The
most frequently cited drawback to having a predominately young population is
the lack of skilled workers in many important industries. A great example of
this can be seen in Vietnam, which has one of the youngest populations in the
world. Vietnam currently has very few leaders in important areas like
engineering and technology. When it came time for Ho Chi Minh city to build a
subway system, there were not enough skilled engineers to accomplish the feat.
They had to hire a huge number of specialists from Japan and Thailand to ensure
the quality of the project. The potential engineers for this project are still
in school in Vietnam or studying abroad and it may be another decade before
they are ready to design and execute large, complex infrastructure. It is not
uncommon for developing countries with young populations to require outside
assistance for national projects to the detriment of their own workers.
Despite
this drawback, the advantage of a young population is that it brings many
future benefits to a country and is a key indicator of future economic
prosperity. Japan famously has one of the oldest populations in the world and
this has led them into a deep economic recession over the last 20 years as it
becomes increasingly apparent that the nation will have to assume
responsibilities related to healthcare and a dwindling workforce. Contrast this
with the so-called ‘Tiger Economies’ of Southeast Asia that include Thailand, Vietnam,
Indonesia and Singapore. These countries have some of the youngest populations
in the world, which, coupled with a growing middle class and better education,
means that they will enjoy upward economic growth for decades to come. The
middle class will expand because well-educated graduates will be able to get
good jobs and this middle class will become a consumer class that feeds the
economy. Overall, this is why having a young population is desirable for any
nation.
In
conclusion, I fully believe that a younger population indicates a country is
going to be successful in the future. The key element for all young populations
is education and governments should focus on this in order to fully exploit the
benefits of their demographics.
No comments:
Post a Comment