How should countries deal with falling birth rates?

The declining birth rates in countries like the UK and US have raised concerns among demographers and experts studying population change. Sarah Harper, a professor of gerontology at the University of Oxford, strongly dislikes the term 'demographic timebomb' often used to describe this situation. She believes that it is part of the expected demographic transition and should have been anticipated and prepared for. However, the problem is significant, as a country needs a birth rate of between 2. 1 and 2. 4 children per woman to maintain or increase its population. The latest figures for England and Wales show a decline in the average birth rate to in 2022, from 1. 55 in 2021, with similar trends in Scotland and Northern Ireland. In the US, the fertility rate fell to 1. 62 last year, down from 3. 65 in 1960. This trend is observed in two thirds of the world’s countries, with Japan, China, and South Korea having particularly low childbirth rates. The economic implications of falling birth rates are significant, as countries will face challenges related to aging and declining populations, and a smaller workforce compared to the number of pensioners.