Europe’s 2008 population of 736 million is projectedto decline to 685 million by 2050 becauseof its low country-level TFRs and in spite ofcontinuing net immigration. The decline, however,is expected to take place primarily in easternand southern Europe. Eastern Europe’s 2008population of 295 million is projected to decreaseto 231 million by mid-century, while southernEurope is projected to decrease from 155 millionto 150 million.
Some thoughts on that:
Austrian economy, that highly gained from the new EU member states, will suffer this demographic shift.
Western and Northern Europe are stable, but require higher automatisation of semis-skilled labor.
More semi-skilled immigration from the south - racist parties gain but society is to old for Nazi-cruelties.
US still dominates the century, due its founding myth its open to skilled labor immigration and is highly competitive.
India, Brazil are the new force, if China doesn't make it to become a mature service economy before it grows too old. Russia will decline.
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