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The global demographic transition presents marked asymmetries as poor, emerging, and advanced countries are undergoing different stages of transition. Emerging countries are demographically younger than advanced economies. This youth is favorable to growth and generates a demographic dividend. However, the future of emerging economies will bring a decline in the working-age share and a rise in the older population, as is the case in today's developed world. Hence, developing countries must get rich before getting old, while advanced economies must try not to become poorer as they age. Asymmetric Demography and the Global Economy contributes to our understanding of why this demographic transition matters to the domestic macroeconomics and global capital movements affect the asset accumulation, growth potential, current account, and the economy's international investment position. This collaborative collection approaches these questions from the perspective of "systemically important" emerging countries i.e., members of the G20 but considers both the national and the global sides of the problem.
Asymmetric Demography and the Global Economy contributes to our understanding of why the demographic transition matters to domestic macroeconomics and global capital movements.
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.
div This incisive study explores population movements and declining fertility in China, India, Japan, and North America in the 21st century, suggesting that politics, in addition to cultural and economic concerns, must be included as a prime determining factor in these powerful global trends. /DIV
This book focuses on the economic challenges India has been facing since its independence in 1947. It traces the country’s journey of economic transition and critically analyzes themes such as the political economy of development, agriculture, macroeconomy, industry and labor, money and finance, trade liberalization, gender, welfare, energy, and the environment. The volume also addresses the issues of increasing income inequality, mass unemployment, and environmental degradation and suggests policies for efficient and desirable outcomes in socio-economic development. This is an important and timely contribution that it will be of interest to scholars and researchers in economics, development studies, political economy, management studies, public policy, and political studies. It will also be useful to policymakers.
Latin American countries are in the midst of a demographic transition and, as a consequence, a population-aging process. Over the next few decades, the number of children will decline relative to the number of older adults. Population aging is the result of a slow but sustained reduction in mortality rates, given increases in life expectancy and fertility. These trends reflect welcome long-term improvements in welfare and in economic and social development. But this process also entails policy challenges: many public institutions—including education, health, and pension systems and labor market regulations—are designed for a different demographic context and will need to be adapted. When We’re Sixty-Four discusses public policies aimed at overcoming the two main challenges facing Latin American countries concerning the changing demographics. On one hand, older populations demand more fiscal resources for social services, such as health, long-term care, and pensions. On the other, population aging produces shifts in the proportion of the population that is working age, which may affect long-term economic growth. Aging societies risk losing dynamism, being exposed to higher dependency rates, and experiencing lower savings rates. Nonetheless, in the interim, Latin American countries have a demographic opportunity: a temporary decline in dependency rates creates a period in which the share of the working-age population, with its associated saving capacity, is at its highest levels. This constitutes a great opportunity in the short term because the higher savings may result in increases in capital endowment per worker and productivity. For that to happen, it is necessary to generate institutional, financial, and fiscal conditions that promote larger savings and investment, accelerating per capita economic growth in a sustainable way.
A trusted economic commentator provides a penetrating account of the threats to China's continued economic rise Under President Xi Jinping, China has become a large and confident power both at home and abroad, but the country also faces serious challenges. In this critical take on China's future, economist George Magnus explores four key traps that China must confront and overcome in order to thrive: debt, middle income, the Renminbi, and an aging population. Looking at the political direction President Xi Jinping is taking, Magnus argues that Xi's authoritarian and repressive philosophy is ultimately not compatible with the country's economic aspirations. Thorough and well researched, the book also investigates the potential for conflicts over trade, China's evolving relationship with Trump, and the country's attempt to win influence and control in Eurasia through the Belt and Road initiative.
This book deals with the 'what' and 'how' but primarily with 'why' globalization most often has negative outcomes for developing countries. It breaks new ground in approaching globalization not only as trade commodities, but also as trade in positional goods ('decommodified trade.')
Comparison with stationary and very fast rates of population growth shows modern population grwoth to have long-run positive effects on the standards of living. This is Julian Simon's contention, and he provides support for its validity in both more and less-developed countries. He notes that since each person constitutes a burden in the short run, whether population growth is judged good or bad depends on the importance the short run is accorded relative to the long run. The author first analyzes empirical data, formulating his conclusions using simulation models. He then reviews our knowledge of the effect of economic level upon population growth. A final section of his book considers the framework of welfare economics and values within which population policy decisions are now made. He finds that the implications of policy decisions can prove inconsistent with the values that prompt their recommendation. Originally published in 1977. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.