eli5 Japan population crisis

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How is Japan in such a big pickle with the population shrinking. If an economy is based on a kids being born so they grow and sustain the aging population, how did Japan, a country known for their meticulous approach to everything, got themselves in this situation. For sure they must have seen it coming 20-30 years ago.

What went wrong? If they got it worn, how do we have it right? With the government not providing any kind of meaningful incentives for families to have kids, when will the 24th hour come for the rest of us?

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