Hard maths driving Thailand’s race to reinvention
The kingdom is trying to shore up its economic prospects amid dramatic demographic shifts.
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Thailand’s total fertility rate has been stubbornly below the replacement level of 2.1 for decades.
PHOTO: AFP
Daniel Moss
Thailand is racing to both revive – and renovate – the economy, bringing with it profound social changes. Infamous for its role in Asia’s financial meltdown a generation ago, the country is today running headlong into a hurdle confronting the region: a dwindling, and greying, population.
Japan, South Korea and Singapore attract much attention for their low birthrates and multiplying ranks of seniors. This trio were fortunate enough to become rich before they grew old; they have the financial capacity to manage the transition. Malaysia and the Philippines, nowhere near as wealthy, face a slowdown in births that hasn’t yet become a consuming policy challenge.