As you know, Japan is now shrinking economy and population, it means we will have to see the difficult situation in near future.
Facing the fact and preparing for the crisis.
Referring to the article, it alarms that Japan might fall into default like Greece. I don't think so but hope strongly Japan will solve the problem to get along with the super-aging society with intelligence and great heart.
[from the article Japan Times]
One-third of the Japanese population will be visiting hospitals or staying at elderly care facilities. One estimate shows that in 2020, ¥44 trillion of GDP will derive from medical and elderly care services and that 7.3 million people will be working in that sector. In other words, about 15 percent of the working-age population will be engaged in services accounting for nearly 10 percent of GDP. That's a glimpse of how Japan's super-aging society will look in the future.
The number of workers in manufacturing and in the service sectors — other than in medical and elderly care services — will decrease. The nation's trade balance will fall into the red as the costs of maintaining the national health insurance program continue to rise and the fiscal deficits expand proportionally. Therein lies a specter of becoming like Greece.
(quoted from Japan Times)
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