Thailand is just like Finland, but in the worst way possible for its economy https://t.co/bj7xwfdpyL— Bloomberg (@business) July 25, 2019
More than a quarter of Thailand’s people will be over 60 by 2030—and most will be poor. The International Monetary Fund says a shrinking labor force will hold back economic growth by as much as a full percentage point every year for the next two decades.
Thailand doesn’t have too much time to fix its problems, says Stanford University demographer Shripad Tuljapurkar. It must find ways to boost labor productivity, otherwise the shrinking pool of workers won’t be able to support the country’s retirees, whose numbers will balloon in the mid-2030s.
“If they miss this opportunity,” he said, “things are going to look pretty bleak.”
Problem is, with two military coups since 2006, plans to address the country’s aging have been sparsely implemented. And a new government, elected in March and cobbled out of an unwieldy 19-party coalition, looks no more able to act.
