2040 will see India's working-age population rise while China and Japan's decline, highlighting the need for labor mobility and regional cooperation in Asia-Pacific.

The ADB report reveals India's working-age population will rise until 2040, contrasting with declining populations in China and Japan. This demographic trend highlights the significance of labor mobility and regional cooperation to balance workforce imbalances and maintain economic growth in Asia-Pacific. The ADB recommends countries prioritize investing in human capital, enhancing labor mobility, and implementing flexible migration policies to address workforce deficits and surpluses, which would also strengthen trade, boost innovation, and increase remittance flows. Regional cooperation through bodies like ASEAN can facilitate this migration strategy by standardizing requirements and fostering skills partnerships.

August 03, 2024
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