The Impact of Population Growth on Economic Development in East and South Asia

Abstract

Population Growth and Economic Changes The quantity, quality, structure, and distribution of a population can help or hinder the rate of economic development. While most countries can attribute population growth to economic development, that is not the case. A country with a low population and low percentage of employability people could increase its economic development through population growth to boost economic development. In most cases, population growth increases the labor force and, therefore, increases economic growth (Coale & Hoover, 2015). A large population is also likely to provide a large domestic market for the economy. Population growth may increase the total size of the economy including the demand for labor, demand for goods, and a larger market for manufactured goods. Moreover, population growth results in competition and more production which induces technological advancements and innovations (Menike, 2018). While population increase results in overall better production, excess population might be a hindrance to economic development, like in East and South Asia (Bloom, 2011, January). A few countries that have resulted in excessive population increase have resulted in poor standards of life, poverty, lack of resources to foster development, and retarded economic growth. The world keeps experiencing changes in the demographic state with implications for economic growth. Focusing on East and South Asia, it is easier to establish the population growth and economic changes in these regions. India and China have the highest population in the world. The population in these countries has had different impacts on these countries. For instance, East Asia has been attributed to great economic growth recently. For example, China and India have been attributed to huge production (Coale & Hoover, 2015). China is taking the advantage of a huge population to overtake most countries in the West in production, industrialization, and economic development. With readily available labor in these countries, production is easier, cheaper, and faster. Innovation and invention have also been possible due to the huge population that probes competition and the need for better goods and services. China has been linked with the...