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Search resuls for: "Sebastian Dettmers"


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China's population is shrinking. This shocking statistic is only the start of China's population decline. This year India is set to surpass China's population, and in a few years it will surpass China's working-age population — people 20 to 69. Because of its manufacturing prowess and importance to supply chains, China's shrinking working-age population has enormous, direct effects on the global economy. Among today's largest economies, only the US has a projection of positive population growth, though at very low levels.
The great labor shortage caused by the declining population will cripple our global economy unless we find innovative ways to keep things running. The German working population will have declined by a third, based on the average scenario from the researchers, and in Italy, Spain, and Greece it will have declined by more than half. We are already experiencing the beginning of this great labor shortage in industries ranging from airlines to day cares. In the US, the increase in the number of retirees compared with the working population is already straining the system. To combat the coming population bust, the world will need nothing less than a revolution of our minds.
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