Analysis of the Current Situation of the Aging Population and Differential Economic Impacts between China and Japan

Given that aging has become a common problem faced by China and Japan in terms of development paths, this article conducts a differentiated comparative analysis of the current situation and economic impact of aging in China and Japan. Both countries have gone through specific aging stages and will continue to experience aging with increasing and negative population growth. China has the largest elderly population, whereas Japan has the deepest degree of aging and a greater proportion of elderly people. In terms of economic impact, population aging has a detrimental effect on the quality of economic expansion in both countries, whereas interacting with technological innovation has a positive effect. The impact on consumption and the industrial structure has both positive and negative effects, which strongly influences the development of the tertiary industry. Finally, China can actively draw on Japan’s experience to promote technological innovation, postpone retirement, and guide elderly consumption to counteract the detrimental influence of aging on the development of both China and Japan.