The decline in birth rates is a natural response of the public to an overly intense life.

When you are doing your utmost just to survive, you simply have no time or interest to consider having children.

There are similarities between China and South Korea, but South Korea is more extreme. In China, young people at least have a fallback; if they can't make it in big cities, they can return to their hometowns, and the social tolerance is relatively high. In South Korea, if young people can't succeed in Seoul, they are considered losers.

Economically, the situation is quite similar, with low personal consumption, high fixed assets, and increasing foreign exchange reserves.

Perhaps this is all a legacy of the 1997 financial crisis, where there is a kind of phobia about being cut by Wall Street, leading to a desperate accumulation of foreign exchange reserves, which results in the aforementioned economic model.

Japan was a pioneer, but Japan's military strength is the pinnacle of this model, and the Plaza Accord led to a decline in Japanese exports.

Let's see how this round of tariff wars turns out; it may suppress Chinese exports, but that is not necessarily a bad thing.

Could South Korea even benefit from this misfortune? But this also means that the problems are further delayed.

Until the birth rate becomes the hard ceiling.

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