Tuesday, July 18, 2023

Old people will reshape the world

Good graphics [GO TO THE PAGE!] from the NYTimes shows that the EU and China will have a bunch of old people, but not enough working age adults to support them.   
  • By 2050, people age 65 and older will make up nearly 40 percent of the population in some parts of East Asia and Europe. That’s almost twice the share of older adults in Florida, America’s retirement capital.
  • Africa is where all the working age adults are, but ... "If large numbers of young adults don’t have access to jobs or education, widespread youth unemployment can even threaten stability as frustrated young people turn to criminal or armed groups for better opportunities."
  • Slightly higher fertility rates and more immigration mean the United States and Australia, for example, will be younger than most other rich countries in 2050

WARNING:  
things many wealthier countries take for granted — like pensions, retirement ages and strict immigration policies — will need overhauls to be sustainable.

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