Donate NowWhat could plunging birth rates mean for Australia? For the first time since the bubonic plague decimated Europe, the world’s population is decreasing. As a result of plummeting birth rates, more and more societies fall into an era of ongoing and unending depopulation. East Asia, for instance, will have more people over 80 than children under 15 by 2050. As their work aged populations decline, China, Japan and South Korea will undoubtedly find it harder to generate economic growth. People will struggle to build wealth. There won’t be enough workers to fund their safety nets and our young people to fight in wars. Consequently, the long-heralded China-led “Asian Century” may never arrive. Thus, we have entered world of shrinking and aging societies. How worried should we be? Should governments encourage higher birth rates? Moreover, can our leaders and policymakers respond effectively? Also, should they?