Many countries in Asia and Europe, especially the more developed economies, have already entered either the stage of the aged or the aging society. At the same time, a number of developing countries in Asia, which are in the midst of the demographic transition, are experiencing rapid shifts in the age structure of their populations owing to declining fertility and improving mortality. At present, in approximately half of the countries in Asia, the economic support ratio, which is defined as the ratio of effective workers to effective consumers,1 is increasing, which provides them with an opportunity to seize the so-called “first demographic dividend”, which contributes to faster economic growth (Lee and Mason 2011; Ogawa et al. 2021).

Although demographic transition in Asia and Europe has occurred in different time periods, both continents went through more or less comparable processes and patterns of change. Japan is currently the most aged country in the world, surpassing all industrialized European countries. In Japan, a host of adverse effects of population aging have affected various segments of its socioeconomic system. A number of other Asian economies, such as Singapore; Taipei,China; the Republic of Korea; the People’s Republic of China (PRC); and Thailand, are following in Japan’s footsteps.

Demography is one of the principal driving forces facilitating economic growth and social development in all nations. In view of the important nexus of demographics and economic growth, in this book we focus on both sides of the story—the one seen in aged and aging societies, and the other found in young societies in Asia and Europe.