[Asia Economy Reporter Ki-min Lee] Elon Musk, CEO of Tesla, stated that South Korea, along with Hong Kong, is experiencing the fastest population decline in the world.
On the 26th (local time), Musk tweeted that if the current birth rate is maintained, South Korea's population will plummet to less than 6% of its current level within three generations, and the majority of the population will be aged 60 or older.
The day before, Musk also posted on Twitter a chart of birth rates by country released by the World Bank, noting that the current replacement fertility rate is 2.1 and that South Korea is experiencing the fastest population decline in the world. The replacement fertility rate refers to the birth rate needed to maintain the current population, and countries with a rate below 2.1 are generally classified as low fertility countries.
According to the World Bank data Musk shared, South Korea's birth rate was 0.84, and Hong Kong's was 0.87, ranking 200th and 199th respectively.
In a tweet posted on the 26th, Musk reiterated that if the current birth rate continues, South Korea's population will drop to less than 6% of its current size within three generations, with the majority being aged 60 or older.
Earlier, in a tweet posted on the 8th, Musk commented on Japan, which is also experiencing population decline, saying it will "eventually disappear." Citing a recent Kyodo News article reporting that Japan's population decreased by 644,000?the largest drop since 1950?Musk wrote, "To risk stating an obvious fact, unless a special change occurs so that the birth rate surpasses the death rate, Japan will eventually disappear," adding, "This would be a great loss to the world."
When a Twitter user asked about the possibility of a recession, Musk responded that a recession seems likely but that this is actually a good thing. Based on his experience, he expects the recession to last about 12 to 18 months and added that companies with inherently negative cash flow should disappear so they do not consume resources.
Meanwhile, Bloomberg News reported that in a Twitter poll by Musk asking whether people distrust politicians or billionaires more, many respondents indicated they distrust politicians more.
As of 22 hours before the poll closed, 78.8% of respondents said they trust politicians less than billionaires.
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