Editor's note: Sumaya Chowdhury, a special commentator for CGTN, is an independent columnist and freelance journalist based in Dhaka, Bangladesh. The article reflects the author's opinions and not necessarily the views of CGTN.

The demographic landscape of the world is undergoing a profound transformation, with the elderly population (those aged 65 and above) growing faster than any other age group. This is due to longer life expectancies, declining birth rates, and the aging of the baby boomer generation.

This demographic shift, felt almost across the world, presents several challenges, including increased demand for healthcare services, pension sustainability, and ensuring the social inclusion and well-being of seniors. A robust, all-inclusive, and universally responsive social security system is essential not only for ensuring the well-being and dignity of senior citizens but also for fostering societal stability and intergenerational equity.

In acknowledgment of the coordinated response to this global urgency, China, on October 4, delivered a joint statement on behalf of some 80 countries at the 54th session of the United Nations Human Rights Council in Geneva, highlighting the need for improved social security systems for the elderly population. Drawing a parallel between the right to social security and human rights, the joint statement read, "The right to social security is of central importance in guaranteeing human dignity for all persons when they are faced with circumstances that deprive them of their capacity to fully realize their human rights."

One important aspect of the UN's goal for social security and universal social protection is to ensure that elderly people have financial security. The right to social security and a decent standard of living in old age is recognized in major international human rights declarations, such as the Universal Declaration of Human Rights (1948) and the International Covenant on Economic, Social, and Cultural Rights (1966).

For decades, the world has been accustomed to hearing the specter of challenges posed by a global population bomb. However, the biggest demographic challenge we face now is not rapid population growth but population aging. This is a significant shift that Gerontologists call the "age quake," which began in the early 21st century.

If taking a look at the currently depressing picture of the increasing global aging population, one can realize the imperativeness and timeliness of the joint statement by China published on October 4. 

As of 2022, there were 771 million individuals aged 65 or older worldwide, comprising nearly 10 percent of the global population. According to the World Population Organization of the United Nations, a population is deemed to be aging when the percentage of individuals aged 60 or above in a country's overall population reaches at least 10 percent.

The World Population Prospects Report 2022 predicts that the percentage of the global population aged 65 and above will reach 16 percent by 2050. This means that the number of people aged 65 and above will double the number of children under five and be about the same as the number of children under 12. The report also estimates that the number of countries experiencing an annual population will decline from 41 in 2022 to 88 in 2050.

When it comes to population aging, Asia and the Pacific region are facing a more challenging situation compared to other areas. As of 2022, according to a recent report by the Economic and Social Commission for Asia and the Pacific, around 670 million individuals aged 60 and above are living in this region, which is approximately one in every seven people. Experts predict that by 2050, this number will double to 1.3 billion, or one in four people, with elderly women accounting for 54 percent of total aged persons.

But the real problem lies in the geographical distribution of the global aging population. The pattern and pace of population aging vary substantially in different settings. Many high-income countries already have a large population of older adults, whereas many low and middle-income countries in South Asia and Africa still have a relatively young population.

However, the World Health Organization predicts that by 2050, more than two-thirds (around 80 percent) of the world's population over 60 years old will reside in low and middle-income countries, which will confront difficulties in handling the escalating financial, economic, and public health problems brought on by the disproportionate weight of an aging population if they continue to be as resource-constrained as they are now.

The China-led initiative, calling upon countries "to take concrete steps to address the barriers faced by older persons in terms of social security measures," follows the UN General Assembly's declaration "United Nations Decade of Healthy Ageing (2021-2030)." The joint declaration has added renewed impetus to the UN's efforts and will speed up the worldwide response in promoting collaboration between governments, civil society, international organizations, professionals, academia, media, and private sectors for 10 years of catalytic and collaborative action.

Moreover, China is well-positioned to spearhead a collaborative response to establish universal social security systems for the increasing elderly population. With 254 million people aged 60 and above, which is expected to reach 370 million by 2050, China's elderly-care industry is projected to exceed 10 trillion yuan ($1.57 trillion) by 2024, with an average annual growth rate of about 20 percent. China's State Council adopted a plan to develop the country's elderly care services system under the 14th Five-Year Plan period (2021-2025). Such robust state and private-level initiatives will certainly drive technological and policy innovations in the sector, which could be worth emulating templates for the world to minimize the impacts of this creeping "age quake."

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on Twitter to discover the latest commentaries in the CGTN Opinion Section.)