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ageing population - Coggle Diagram

- - - - more time spent on family - take care of old people
        
        puts pressure on working age people
        
        cant make kids cus theyre too stressed/ no time
        
        aging population continues to increase (basically a loop)
    - - pressure on health care
        
        not enough care homes
      - education people lose their jobs cus lower demand
      - gov spends more money on health care
        
        HONG KONG - money spent on health care increased by 66% in 2021
        
        eg. $2 scheme, Old Age Living Allowance, Health Care Voucher, Mandatory Provident Fund
    - - This slows the growth of GDP
        
        fewer people are contributing to the nation's output of goods and services.
      - declining productivity,
      - higher labor costs
      - reduced international competitiveness.
- - - - between 2005-2050 theyll account for 82% of the growth
  - - - reduce cost of looking after them
- - - - improved healthecare
  - - - cannot take care of elderly by family - pressure on gov
    - - theyd rather spend money on themselves