As Japan, South Korea, Taiwan, and Hong Kong move into “super-aged” status, where more than where more than 20% of the population is over 65 — Chinese billionaire and Trip.com cofounder James Liang has issued a stark warning: without more children, innovation itself could stall. Liang told Fortune: “We need more people to innovate. If we have a declining population, not only will our ability to innovate diminish, but we will lose our capacity to stay in control of innovation itself.”
The philosophy of “innovationism”
Liang has long studied demographics and coined the term innovationism — the idea that population growth fuels technological progress. He argues that more people mean more talent for research and development, which translates into patents and breakthroughs. China’s own demographic decline underscores his concern. The country’s birth rate fell to 5.63 per 1,000 people in 2025, the lowest since 1949, and its population is projected to drop below 1.25 billion by mid-century.
Fertility crisis goes beyond China
The fertility crisis extends beyond China. Japan, South Korea, Taiwan, and Hong Kong are all entering super-aged status, while countries like Thailand, Vietnam, Malaysia, and the Philippines have slipped below replacement levels. Even India, the world’s most populous nation, now has a fertility rate of just 1.9 births per woman. Globally, two-thirds of the population lives in countries below replacement fertility.
Policy responses and limits
Governments across Asia are experimenting with baby bonuses, extended parental leave, subsidized childcare, and even matchmaking events. South Korea’s fertility rate has inched up from 0.72 in 2023 to 0.80 in 2025, but Liang argues far more is needed. He estimates that raising fertility by one child per woman would require spending 10% of GDP on pro-family policies. Liang supports cash transfers, subsidized daycare, flexible work arrangements, legalized surrogacy, and reducing exam pressure in education systems. He also insists men must share more responsibility in child-rearing.
AI meets demographic decline
Liang warns that artificial intelligence could complicate the picture. While AI might free up time and resources for families, it could also eliminate entry-level jobs, making young people more hesitant to start families. More broadly, he fears that a shrinking population will leave fewer humans to oversee AI systems, increasing the risk of ceding control to machines. “We need more people, otherwise we’ll just yield our control to AI,” Liang said.