Core Viewpoint - Western countries are facing a demographic crisis characterized by an aging population and low fertility rates, leading to a potential economic downturn due to a shrinking workforce [1][2][3]. Economic Implications - The World Bank warns that the economic consequences of this demographic shift will be severe, as a declining working population will struggle to meet the demands for goods and services [2]. - Countries like Japan are already experiencing the financial strain of an aging population, with nursing care costs projected to rise by 75% over the next 30 years [4]. - A study by Korn Ferry predicts a global talent shortage of over 85 million people by 2030, which could result in a loss of $8.5 trillion in expected revenues across various sectors [6]. Labor Market Challenges - The ratio of working-age individuals to the elderly is diminishing, making it increasingly difficult to support the aging population financially [4]. - Current policies, such as Greece's six-day workweek, are seen as insufficient to address the structural labor shortages [5][11]. - The U.S. faces a demographic labor force gap of 232 million people globally, indicating that merely increasing working hours will not suffice [12]. Immigration Solutions - Lant Pritchett proposes a radical rethinking of immigration policies, advocating for a temporary rotational migration system to fill labor shortages [14][25]. - He suggests that developed nations should allow immigrants to work for a limited time, which would benefit both the host and sending countries economically [15][21]. - Pritchett emphasizes the need for bilateral agreements to manage labor needs effectively while addressing potential shortages in sending nations [21]. Political and Business Engagement - Pritchett is working to build political support for his immigration proposal by collaborating with countries expanding their immigration channels and engaging business leaders in sectors most affected by labor shortages [25][26]. - The urgency of addressing labor shortages may prompt politicians to reconsider immigration policies, moving beyond traditional binary views of citizenship and border control [23].

Demographic Trends - Japan's fertility rate is 1.20 in 2024 [1] - Births in Japan hit a record low of 727,000 in 2024 [1] - Japan's birth rate has collapsed from 25 births per 1,000 in the 1950s to 6.8 currently [1] Future Outlook - The report suggests Japan faces potential disappearance without drastic change due to low birth rates [1]

🚨 South Korea’s demographic crisis persists despite a tiny rebound: 242,334 babies born in 2024 – up 3.1% from 2023 but the lowest since 1950 and the 9th year under 300K.Fertility rate edged to a world-record low of 0.75 children per woman, far below the 2.1 replacement level.With ~119K more deaths (360K total) than births, the population shrank again. ...

This small town in South Korea has saved itself from extinction through the power of baseball. Sangdong was one of hundreds of small towns on the brink of disappearing due to the country's deepening demographic crisis. It had lost 97% of its population in 50 years, but now it is thriving again, thanks to an ambitious plan to build an elite high school baseball program from scratch.Korea loves baseball, so the program entices students from other parts of the country to move to Sangdong for free baseball trai ...

The death of GreeceVisegrád 24 (@visegrad24):🇬🇷 More than 700 schools have been closed in Greece due to a prolonged demographic crisisGreece has one of the lowest fertility rates in the European Union - around 1.3 births per woman, far below the replacement level of 2.1.The population is rapidly aging, while young https://t.co/WvS0RIbwWQ ...