[SedVictaCatoni]

Would you say the Japanese would be in dire straits in the future because they're reproducing below the replacement rate?

Yes. Their stock of human capital is not being replenished, and future increases in per-capita productivity won't compensate.

[Frank T]

But once the demographic hump is crossed, won't the remaining younger generations have significant capital from inheritances?

It's not just the number of bodies that matter, but how much capital each person has. I suspect the Japanese will continue to be more well off than, say, the Vietnamese, who apparently don't have this demograhic issue?