Core Insights - Singapore's total population has reached a historic high of 6.11 million as of June this year, marking a year-on-year increase of 1.2%, which is lower than the 2% growth rate of the previous year [1][1][1] Population Growth - The increase in Singapore's population is primarily attributed to the rise in the number of foreign workers, which has reached 1.91 million, reflecting a 2.7% growth compared to the same period last year [1][1][1] Aging Population - The report highlights an accelerated aging process, with the proportion of Singaporean citizens aged 65 and above rising from 13.1% in 2015 to 20.7% by 2025. Additionally, the number of citizens aged 80 and above has increased from 91,000 in 2015 to 145,000 this year, representing a 60% growth [1][1][1] Immigration Policy - Immigration is seen as a crucial factor in mitigating the impacts of aging and low birth rates on Singapore's population, with the government planning to maintain a moderate pace of immigration to prevent long-term population decline [1][1][1]

Group 1 - The macro leverage ratio in China has increased to 300.4% in Q2 2025, marking a significant rise from 298.5% in Q1 2025, indicating a growing debt burden associated with economic growth [1] - The rapid increase in debt levels in China is primarily driven by government departments and state-owned enterprises leveraging up [2][9] - The macro leverage ratio of China is projected to rise from 239.5% in 2019 to 286.5% by the end of 2024, showing the most significant increase among major economies [2][28] Group 2 - The leverage ratio of non-financial enterprises in China has shown a pattern of increase since 2022, reaching 139.4% by Q3 2024, driven by significant investments in emerging industries and high-end manufacturing [5][32] - The debt levels of state-owned enterprises are notably higher than those of non-state enterprises, with an average asset-liability ratio of 85.6% for state-owned enterprises compared to 78.3% for non-state enterprises [7][9] - Government leverage in China has risen from 59.6% at the end of 2019 to 88.4% by the end of 2024, contrasting with the trends in Germany, Japan, and the US, where government leverage has fluctuated [9][10] Group 3 - The nominal GDP growth in China has been slower compared to the actual GDP growth, which has implications for the macro leverage ratio as it is inversely related to the growth of nominal GDP [32][34] - The price levels in China have been declining, negatively impacting the growth of nominal GDP, which is crucial for managing the macro leverage ratio [36][37] - The efficiency of debt usage in China is under scrutiny, with suggestions for improving capital allocation and enhancing productivity to manage the rising leverage ratio effectively [38][44]

Core Insights - Brazil's population is projected to reach 213.4 million by July 1, 2025, reflecting a growth of 0.39% from 2024 and a 5.1% increase since the 2022 census [1][1][1] Population Distribution - São Paulo remains the most populous state with 46.1 million residents, accounting for 21.6% of the national population [1][1] - Minas Gerais follows with 21.4 million inhabitants, while Rio de Janeiro ranks third with 17.2 million [1][1] - Roraima is the least populous state with approximately 739,000 residents, but it has the highest growth rate at 3.07% [1][1] Future Projections - The Brazilian Institute of Geography and Statistics (IBGE) forecasts that the population will continue to grow until 2041, reaching 220 million, after which a decline is expected starting in 2042, potentially dropping to 199.2 million by 2070 [1][1][1]

Core Insights - Kazakhstan's population is projected to reach 20.3878 million by July 1, 2025, an increase of 104,400 from the beginning of the year [1] - The urban population stands at 12.8994 million, while the rural population is 7.4884 million, indicating a continuous rise in urbanization [1] - Almaty city has the highest population at 2.3199 million, followed by the capital city Astana with 1.5763 million [1] - Experts suggest that the population growth reflects the effectiveness of the country's policies in economic stability, social security, and healthcare education [1] - The increase in urban population highlights the accelerating urbanization process, which raises demands for infrastructure, job opportunities, and public services [1] - The average life expectancy in Kazakhstan has increased to 74.4 years in 2022, up by 4.1 years from 2021 [1]

Core Insights - The population of England and Wales is estimated to reach 61.8 million by mid-2024, with a significant increase attributed to net immigration [1] - The population grew by 706,900 in the past year, marking a 1.2% increase, the second highest since records began in 1949 [1] - Net immigration accounted for over 690,000 of the population growth, with 1.14 million immigrants arriving from outside the UK, compared to 452,200 who left the UK [1] - Births in the UK totaled 596,000, while deaths were recorded at 566,000, indicating a natural population increase [1] - The rising population figures present a challenge for Prime Minister Starmer, who faces pressure to reduce both legal and illegal immigration [1]

Core Viewpoint - The European Union (EU) is experiencing a population increase primarily driven by immigration, with the population expected to reach 450.4 million in 2024, marking a historic high [1] Population Statistics - The EU's population in 2024 is projected to be 450.4 million, an increase of over 1 million from 2023 [1] - In 2024, the EU is expected to record 4.82 million deaths and 3.56 million births, resulting in a net immigration of 2.3 million to offset natural population decline [1] - The population growth is largely attributed to increased immigration flows, as the EU has recorded more deaths than births since 2012 [1] Demographic Trends - Germany, France, and Italy remain the most populous countries in the EU, collectively accounting for 47% of the total EU population [1] - Among the 27 EU member states, 19 are experiencing population growth while 8 are seeing declines, with Malta and Latvia being the fastest growing and declining countries, respectively [1] Societal Challenges - The EU faces significant challenges related to an aging population and low birth rates, which place a heavy burden on social security systems and create labor shortages [1] - There is a growing anti-immigration sentiment in several EU countries, leading to increased border controls in nations such as Belgium, Poland, Germany, and the Netherlands to address public concerns about immigration [1]

Core Insights - The European Union's population is projected to reach 450.4 million by 2024, an increase of over 1 million from 2023, marking a historical high [1] - The growth in the EU population is primarily driven by immigration, despite a trend of higher death rates than birth rates in recent years [1]

Core Insights - The European Union's population reached a historic high of 450.4 million in 2024, an increase of 1.07 million from the previous year [1] - The growth in the EU population is primarily driven by immigration, despite a trend of more deaths than births in recent years [1] Population Growth - The EU's population growth marks a significant milestone, with the total reaching 450.4 million [1] - The increase of 1.07 million represents a notable change in demographic trends within the region [1] Immigration Impact - Immigration remains the main driver of population growth in the EU, compensating for the natural decline due to higher death rates than birth rates [1] - This trend highlights the critical role of external migration in shaping the demographic landscape of the EU [1]

Core Viewpoint - The article discusses the changing dynamics of housing demand in urban China, highlighting a significant decline in new housing demand due to population decrease, urbanization slowdown, and shifts in family structure, with projections indicating a future annual demand of slightly below 5 million units [2][5][6]. Group 1: Population and Housing Demand - New housing demand in urban areas peaked around 2015, with projections indicating it may stabilize at just below 5 million units annually in the foreseeable future [2][6]. - Population growth has historically been a key driver of new housing demand, but projections show a negative contribution to housing demand from 2020 to 2029, averaging -500,000 units annually, and further declining to -1.4 million units annually from 2030 to 2039 [3][5]. Group 2: Urbanization Trends - Despite a declining population, urbanization rates continue to rise, contributing significantly to housing demand. However, the pace of urbanization is expected to slow as the government aims for a 70% urbanization rate by 2030, with only a 0.5 percentage point increase per year from 2024 to 2030 [4][5]. - The contribution of urbanization to new housing demand is projected to decrease from an average of 6.4 million units annually in 2010-2019 to 3.8 million units from 2020-2029, and further to 2.8 million units from 2030-2039 [4][5]. Group 3: Family Structure Changes - The trend of shrinking family sizes in urban areas is expected to continue, supporting new housing demand. The proportion of "one-generation households" has increased from 27% in 2000 to 50% in 2020, with projections indicating an increase in demand contribution from this factor [5][6]. - The average contribution of shrinking family sizes to new urban housing demand is expected to rise from 1.4 million units annually in 2010-2019 to 1.8 million units in 2020-2029, and further to 2.1 million units in 2030-2039 [5][6]. Group 4: Housing Investment Demand - Housing investment demand, which accounted for 24% of total urban housing demand from 2010-2019, peaked at 5.7 million units in 2021 but is expected to decline sharply due to falling property prices and negative future price expectations [7]. - Projections indicate that housing investment demand will average -180,000 units annually from 2025-2030 and -120,000 units from 2030-2039, with the release of vacant second-hand properties likely to further suppress new housing demand [7].

Core Insights - Canada's population growth in the first quarter is the lowest level since the third quarter of 2020 [1] Group 1 - The decline in population growth may indicate potential challenges for various sectors, including housing and labor markets [1]