In the present age, in addition to the improvement of the world, there is a sharp increase in the number of elderly people in many developed and developing countries which has had significant impacts on the growth of those countries. In my perspective, population aging has both benefits and drawbacks but the disadvantages outweigh the advantages.
On the one hand, the rise of life expectancy has two major positive consequences. To begin with, it is obviously that older people have more experiences and acquire a larger amount of knowledge than the younger generation. Therefore, they have excellent leadership and are the most reliable person in charge of a country’s crucial decisions and missions. Secondly, the appearance of an aging population creates opportunities for businesses to improve and expand by providing services for the elderly such as nursing homes, healthcare services. Thus, it leads to an important economic growth.
On the other hand, there are several dangers associated with the increased number of elderly people and here are three remarkable drawbacks. Firstly, the population aging influences terribly on the labor productivity of certain companies. For example, because the elderly have health limitations, they cannot work at high intensity to speed up the product manufacturing process. Hence, the revenues of such firms will fall, and the country's development would be slowed. Moreover, the government is under financial strain because of social security benefits for the old people, as well as the influence on national security as there are not enough strong youngster to defend the country’s border areas and fight the enemy if conflicts occur. Therefore, the explosion of elderly population is not only affects seriously the economy but also the society and security of a country.
In conclusion, while elderly people offer certain economic benefits, they are also those who create unexpected matters for a country’s growth. I'm wondering if the governments of each country should come up with solutions to cope with this problem.