SHANGHAI, May 10 (Xinhuanet) -- Asia's aging populations may
hinder the region's economic development, warned Robert Hormats,
vice-chairman of Goldman Sachs (International), Friday.
   For many Asian nations, meeting the "compelling challenge"
would be critical to economic growth and social stability, he told
a seminar at the annual Asian Development Bank (ADB) board meeting.
   Many populations would age considerably in the next 15 years,
creating a growing number of retirees, Robert Hormats said.
   Shaukat Aziz, Minister of Finance of Pakistan, and Yashwant
Sinha, Indian Minister of Finance, also discussed the aging issue
in their speeches.
   The Indian minister analyzed the changes in the structure of
population in both the world and Asia, saying that the problem of
aging would have a significant impact on regional economic
development.
   The Pakistani minister believed the problem was predominant in
East Asia which was witnessing a declining working-age population.
   Unless it moved away from labor-intensive manufacturing to
technology-intensive industries, East Asia could experience
relatively lower growth in the future, he said.
   According to estimates of the United Nations, by 2050 the
number of people aged 60 years and older is expected to reach 1,
227 million, accounting for 23 percent of the total, compared with
the present 338 million and nine percent.  Enditem