Reply To: At the present time, the population of some countries includes a relatively large number of young adults, compared with the number of older people. Do the advantages of this situation outweigh the disadvantages?

TOEFL, IELTS, Personal Statement and CV Proofreading Services. IELTS Writing At the present time, the population of some countries includes a relatively large number of young adults, compared with the number of older people. Do the advantages of this situation outweigh the disadvantages? Reply To: At the present time, the population of some countries includes a relatively large number of young adults, compared with the number of older people. Do the advantages of this situation outweigh the disadvantages?

Yiran Huang
University: yinghua international school
Nationality: Chinese
January 19, 2020 at 2:14 am

Contemporarily, the number of young adults takes a larger proportion of the population than elders. Whether this phenomenon is good or not has become a controversial question. In my opinion, it is a good situation.

A high number of young adults is good for domestic producers. What I mean by that is, many young people will join the domestic labor markets. This behavior offers companies more choices. What’s more, supply costs will decrease when producers choose cheaper labor.Comparing with older people, young adults are more diligent. Besides, they are always more keen on following global trends. For producers, these characteristics make young labor efficient as well as keeping up with times.

A large number of young labor raises the government budget surplus. In other words, the tax paid by young workers increases government revenue. According to <financial times>, young people’s purchasing power is higher than elders. Because of this, they also have to pay higher sales taxes. Governments can use this revenue to benefit domestic citizens by improving public infrastructures.

On the other hand, the high number of young adults may worsen the domestic economic situation. The main reason is more young people are in debt compared to old people. When there is a limited supply, increasing demand for money may lead to a higher interest rate. This increase in interest rate makes saving profitable, therefore discouraging people’s willingness to buy. Fortunately, setting the maximum borrowing amount can restrain this behavior.

From what has been addressed before, the large number of young adults is good, because this situation has many advantages like profiting domestic producers and increasing government revenue. Although young people have higher debt probability than elders, this can be solved by government intervention.