Before you read: some questions to help you think about the topic and the words you might need.
Is an aging population a problem in your country? How and why?
What is your government doing to help with the problems of more older people and less spending by younger people?
One of Japan’s problems is that it has a population of baby boomers who are living longer, but fewer young people to help spending in the country. For many countries this is a problem. It’s a problem because a country has to think about how to pay for things like pension, and the high cost of healthcare.
However, in Japan an interesting situation is evolving. The baby boomer generation is retiring with the large amounts of savings that they had acquired during Japan’s golden economic times before the 90’s and are helping to prop up a slow Japanese economy.
These retired people are now spending. Take for example Keiko Awaya who wasn’t allowed to major in English at college because her nation was at war with the U.S. at that time. Now 85, her readiness to use savings to fulfill a decades-delayed dream of studying English is part of a wave of spending by the elderly that’s aiding the Japanese economy.
Ikiiki is part of an endeavor to unlock an estimated 900 trillion yen in savings held by Japanese over the age of 60, through rekindling the zest for spending that today’s retirees knew in the 1980s bubble years. From gaming arcades with tatami- bench tea areas to fitness gyms with stretching classes, the efforts go beyond nursing care, and may help Japan keep full employment even as manufacturing declines.
“Japanese companies are getting better at providing attractive products for the older generation,” said Nobuhiro Maeda, a gerontology analyst at NLI Research Institute and a visiting fellow for the Institute of Gerontology at Tokyo University. “Winning market share in the expanding senior market is the key (important) for companies to survive at home and that’s critical (important) for the future of Japan’s economy.”
Guessing meaning from context
Try to guess the meaning of the words in bold and match them with their closest meaning from the choices in the right. The answers are below the table.
|
evolving |
A |
1 |
To get |
|
acquired |
B |
2 |
To help |
|
golden economic times |
C |
3 |
Developing, changing into something different or new |
|
to prop up |
D |
4 |
To hold and support |
|
aiding |
E |
5 |
To restart |
|
endeavor |
F |
6 |
Energy, enthusiasm |
|
rekindling |
G |
7 |
A plan to achieve something |
|
zest |
H |
8 |
Time of booming/high growth, prices increased too much |
|
|
I |
9 |
Periods when things are growing/increasing fast |
A=3, B=1, C=9, D=4, E=2, F=7, G=5, H=6, I=8
Some discussion questions using the new words to help you better understand the word meaning and how to use them correctly. Try to use the words in your answer.
1. What is evolving in Japan, and why is it interesting? Is a similar situation evolving in your country?
2. Does the reading describe how the Japanese acquired their wealth? How did they acquire it?
3. Why did the golden economic times not continue in Japan?
4. How are the aged/retiring people helping to prop up the Japanese economy?
5. Who is aiding the economy in your country? Is it a similar situation to Japan?
6. Who made the endeavor to get the Japanese to spend?
7. How are the retired being encouraged to rekindle their zest for spending? Why is it important that they have a zest for spending?
Some example sentences using the new words to help you to better understand their meaning.
1. European economies are trying to evolve from their high spending on social security to become more competitive by spending less.
2. Kia was acquired by Hyundai to become part of the Hyundai Kia Motor company group after Korea’s golden economic times prior to 1997.
3. Some governments attempt to prop up their currency value by buying their own currency to create demand.
4. Listening to American movies aids in learning correct English pronunciation.
5. I have made an endeavor to learn Korean by going to classes twice a week.
6. I met my ex-girlfriend and our love has rekindled.
7. There is a zest for investing in the growing Vietnamese economy, but this could help to create a bubble.
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