Originally published October 2022.

How it could elevate role of Vietnam and robotics in global supply chain

China’s population reached 1.45 billion in 2022 and is forecast to plateau around these levels early next decade, according to the UN projections. Thereafter, China will join the bulk of the developed world in population decline, which poses headwinds and tailwinds for global real asset demand.

Beneath China’s headline population trend is the working-age population decline. In nominal terms, this age cohort will peak around 843 million this year. However, as a percentage of the population, this age cohort peaked six years ago – from 59.5% in 2016 to 58.2% in 2022 – and UN forecasts this slump will continue below 50% in 2050.

In this article series, which examines the impact of global demographic trends on real asset demand, we explore the demographic trends in two of our most significant markets in the Asia Pacific region, China and Australia.

Population growth by decade, % per decade

China’s shrinking working-age population: causes and consequences