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How developing countries can deal with rising health care costs

The world's aging population is a twofold phenomenon. It is a reflection of longer life expectancies and a sharp decline in fertility. Life expectancy has risen significantly worldwide over the last few decades.

In Asia, average life expectancy was only 40 years in 1950; by 2014, it had nearly doubled to 72 years. As people live longer, they require more savings to support a longer period in retirement.

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