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Public policymakers could aim to raise immigration, boost the labour force participation rates of older workers and women and crank up productivity growth. Several Asian states will have to consider these options much more carefully if they are to adapt, stabilise the working-age population impact of ageing and provide for sustainable public finances.
Leaving aside Japan, Australia and New Zealand, which have ‘aged’ — defined as a doubling of the over 65s as a share of the total population to 14 per cent — over…