Emerging Economies Must Get Rich Before They Get Old
With their working-age populations shrinking, many emerging economies are set to experience the same demographic problems plaguing developed countries. They must act now to prepare for the moment when their demographic dividend fades and the burden of supporting an older population becomes unavoidable.
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NEWARK/BARCELONA – The effects of falling birth rates and rising life expectancy are increasingly evident in advanced economies like Germany, Italy, and Japan. Labor markets are tightening, worker shortages are worsening, and families are struggling to find care for aging parents. In some areas, declining student numbers are forcing schools to shut down.