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The great demographic shake-up

Goola Warden, Bryan Wu and Thiveyen Kathirrasan
Goola Warden, Bryan Wu and Thiveyen Kathirrasan • 17 min read
The great demographic shake-up
Commuters wait to board a train in Mumbai, India. The country’s population is fast catching up with that of China at 1.4 billion / Photo: Bloomberg
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The growing proportion of older people has hit historical proportions in the developed world. This has huge implications on how people invest


The biggest demographic changes in Asia have taken place this year. China’s population is believed to have peaked. On Jan 17, the country’s National Statistics Bureau announced that its population had fallen by 850,000 in 2022, with a national population growth rate of –0.6 per thousand.

According to the United Nations Population Prospects report, India’s population was estimated to be at 1.417 billion at the end of 2022. In January, China’s population stood at 1.412 billion, marginally lower than India’s.

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