Credit rating agency Moody’s warns that aging Western populations will strain public finances with fewer workers and higher costs. The European Union’s population is projected to peak as soon as 2029, followed by a sustained decline. In G7 economies, the ratio of working-age people to those over 65 is expected to drop from three-to-one to about two-to-one by 2050. AI and increased productivity can only partially offset this demographic challenge, as robots do not consume. China, Brazil, Thailand and Turkey are aging rapidly and will face these costs at much lower income levels than the advanced economies that aged before them.
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