Aging societies need new strategies

Lenders must reconsider their business as the world will have more old people than young

Much has been written about the impact of Japan's aging population on its economy. But many emerging markets - including China and South Korea - need to brace for some similar issues.

As of 2000, Germany and Italy had more people 60 and above than below 20. And as of 2010, Japan joined that group of countries with more over-60s than under-20s, as did many countries across Europe including Greece, Portugal, Spain, Austria, Bulgaria, Slovenia, Croatia, Finland, Switzerland and Sweden.