(Yicai Global) Sept. 8 -- Populations in China, Japan, South Korea and Thailand are aging rapidly and the resultant reduction in labor forces could lead to falls in the countries' gross domestic product of up to 1 percent, Christine Lagarde, managing director of the International Monetary Fund, said at an economic forum in Seoul on Sept. 7.

The nations "will have smaller work forces in the future and potentially lower productivity growth," she said.

She urged these key nations to boost economic growth by restructuring population and increasing the proportion of women in the workforce by boosting child care benefits and tax incentives for part-time work.

Respective governments should also focus on inclusive economic growth, she advised, because the more sectors and people benefiting from economic development dividends, the more robust, sustainable and elastic economic growth is.

China is in the middle of a transition toward a consumption-led economic growth model, so "a stronger social safety net, including a more reliable pension system, is crucial."

Cambodia and India can benefit from closing the gender gap, expanding girls' access to high-quality education and promoting women's access to finance, she added.

Major Asian countries now play a crucial role in the global economy, with China and Japan comprising the world's second and third largest economies. A slowdown in economic development in these countries may have a major impact on economies worldwide.