DO DODGY demographics doom Singapore? So-called experts believe birth rates near record lows portend myriad ills, from labour shortages to diminished military capabilities. The few able-bodied workers – or the government – will surely go broke caring for a sea of infirm elders, they claim, wrecking the economy and Singapore stocks.

Don’t buy these old, backward fears. Greying populations aren’t impediments to progress; they are signs of it. Here’s why.

Yes, Singapore is ageing. According to the World Bank, 3.3 per cent of residents were aged 65 or older in 1970. That ratio nearly doubled to 6.3 per cent in 2000, and has soared to 15.1 per cent now.