The ageing population in the developed world has now begun to spread into middle-income countries, especially in parts of Asia.
“We are living through a period of dramatic population change all over the world – with birth rates falling quickly, populations ageing at unprecedented rates and migration becoming ever more important to near-term population changes and labour markets,” said HSBC Global Research in a new paper launched, called “Demographics: A key driver of everything”, which focused on birth rates and how ageing populations and shrinking workforces could be a huge driver over the course of this century.
In the report, HSBC said that these changes, “no matter how timely and current they are”, often made people think about demographics as a topic to worry about over a 10-20-year time horizon rather than as an issue that will “[influence] almost every facet of the global economy every single day”.
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