Key facts
- Governments in Asia are spending hundreds of billions of dollars to reverse declining birth rates.
- Low birth rates are a concern for economic growth and supporting aging populations.
- Common policies include payments for new parents, subsidized education, and expanded parental leave.
- Experts suggest these policies have not been effective in Asia.
- Gender equality and robust welfare systems are cited as reasons for better results in Scandinavian countries.
Governments across Asia are investing heavily in policies to combat falling birth rates, a trend that poses significant economic challenges due to shrinking workforces and aging populations. Despite substantial spending, particularly in South Korea, which has allocated over $200 billion in the last 16 years, fertility rates continue to decline, with South Korea recording a record low of 0.78 babies per woman. Similar efforts have been ongoing in Japan since the 1990s and Singapore since 1987. Experts, including those from the United Nations, express skepticism about the efficacy of these 'demographic engineering' policies, suggesting that they fail to address the core issues, such as women's difficulty in balancing work and family life. Scandinavian countries, with their stronger welfare systems and greater gender equality, have seen more success with similar policies.