Also in several counties and cities, and some parts of Busan and Seoul the fertility rates have reached 0.30 children per woman (And still falling quickly nationwide). How bad and severe this is for SK?
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For the elderly and middle aged? Very bad. Most safely nets and retirement benefits work on a ponzi scheme, where there always has to be more younger people putting in more than there are old people. So those people are going to have a rough retirement.
For the young and those not yet born? Very very good as long as the elites don’t flood the country with immigrants. When the population is less, rent is decreased, housing is cheaper to buy, food is cheaper, and wages are higher as businesses fight over workers. See the worker’s revolution that happened after the black plague killed one third of Europe for how life becomes radically better for people when there is less people.
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