bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

sponsorType

urlAlias

moreOnThisArticles

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Bloomberg

Asian emerging markets won’t just need to worry about “taper tantrums” in future when it comes to the risk of capital outflows.
And the hidden danger has nothing to do with the US Federal Reserve’s appetite for monetary tightening.
It has everything to do with demographics.
Ageing population debate heats up
For the first time since 1950, the Asian emerging markets — a group that includes China, Thailand and South Korea — will see their populations age faster than those in the developed world in the coming two decades, according to Goldman Sachs.
How Hong Kong’s ageing population will impact our gender balance
When workers hit their 50s and 60s, those are peak savings ages — and times when households probably will want to put a portion of their investments abroad, according to Goldman research published this month.

Ageing demographic profiles are already contributing to pressure for capital to move out of China, Taiwan, South Korea and Thailand, the banks’ analysts wrote. Goldman tallied a net US$2 trillion exodus is poised to leave those countries in the next five years.
“Outbound investment of domestic savings would weaken local currencies, softening financial conditions and reducing the need to cut interest rates at the margin, in our view,” the Goldman analysts, including Andrew Tilton, the chief economist for the Asia Pacific region in Hong Kong, wrote in the September 22 report.

If Goldman’s estimates are correct, an ageing Chinese society means pressures are bound to strengthen in an economy already hit by outflows.
Of the $2 trillion that the investment bank estimates will flow out of the four emerging markets facing the most severe ageing risks, 70 per cent will come from China.
The Philippines, with its youthful workforce, stands out as an exception, with “virtually nonexistent” ageing-induced outflow pressures on the horizon, Goldman says.
In Indonesia and India, outflows due to an ageing population will represent less than 1 per cent of gross domestic product over the next decade, it said.


HKUST launches 5-year study into long lifespans of Chinese people

Why internet use can actually lower your dementia risk

Housing authorities expand use of smart technologies to support elderly

Hong Kong must not undo the good work of its HK$2 transport scheme

Ageing society

As Asians age, more of their savings may head offshore

China and Taiwan to see outflows; youthful Philippines the exception

Customers look at a packaged food item in a fresh produce section of a Wal-Mart Stores Inc. owned and operated Sam's Club store during its opening day in Tianjin, China, on Wednesday, Sept. 28, 2016. China's 2016 retail sales may grow by 10.3%, with the country's economy expected to keep a steady and upward trend through year-end, according to the China General Chamber of Commerce. Photographer: Qilai Shen/Bloomberg

A worker takes a break atop of a water tank parked along a main street in metro Manila, Philippines September 28, 2016. REUTERS/Romeo Ranoco

Elderly and middle-aged people exercise with wooden dumbbells during a health promotion event to mark Japan's "Respect for the Aged Day" at a temple in Tokyo's Sugamo district. Photo: Reuters

Business

Money

Markets & Investing

China and Taiwan to see outflows; youthful Philippines the exception


.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}China and Taiwan to see outflows; youthful Philippines the exception

China and Taiwan to see outflows; youthful Philippines the exception