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With rising life expectancy and plummeting birthrates, Taiwan is poised to undergo a stunning demographic transformation. The United Nations has estimated that the share of the population aged 65 and above in Taiwan will increase from 15 percent in to 35 percent in , making it one of the oldest countries in the world trailing only South Korea at 38 percent, and Japan at 37 percent.
During the same period, average life expectancy in Taiwan increased from 69 to 81 years, according to data from the United Nations. The diminishing youth population has been at least partially caused by government policies intended to slow population growth.
After World War Two, rapid population growth was widely considered a hindrance to economic development. Therefore, each family was encouraged to have only two children. However, economic development allowed for improved public health measures and medical advances, which in turn contributed to decreasing mortality rates and increased longevity.
Over the last decade, the rising cost of living and stagnant wages have further discouraged many Taiwanese from marrying or having children. Additionally, a growing percentage of the younger generation has opted to prioritize career development over family life. During the same period, people aged 65 and above increased from a 3 percent to an 18 percent share of the population.