TSMA Yearbook 2018

103 Taiwan Sporting Goods Manufacturers Association Diagram 6. Taiwan’s working age population ratio is lower than other countries Source: Population Statistics Brief of Taiwan R.O.C. (2014 -2061), 103/8, National Development Council Ageing makes economic impacts such as decreasing labor population, growth of ageing and retiring population, the rising and falling industries and changing structures, the upward dependence population index, the growing burden of dependence population, and tax on producers. Thus, the governments need to increase the health, medical care and pension expenditure. Besides, personal income tax and corporate tax both are increasing which lower the interests of work and investment. In addition to the increasing of pension preparation fund ratio, the capital investment and economic growth are both decreased. The changing population structure makes the largest impacts upon industries; in other words, industries face the dilemma: the severe shortage of labor force and manpower needs. This tough challenge could even lead to decline the entire national productivity. This concern is especially important in the developed countries. The working age population from 15 to 64 years old of the European Union reaches to the top in 2012. Afterwards, due to the retiring baby-boom generation, it goes down every year. Accordingly, the ageing impacts are much larger than the growing labor participation. Thus, labor retirement slows down the growth of labor force and leads to a stagnant condition. In the meantime, the gap of professional skills is getting larger and larger. Due to a great number of experienced employees retire, many manufacturers