The Great Depression & Demographics
July 23, 2021
ITR Economics is forecasting an economic depression for the 2030s - how will demographics play into this event? Catch our newest TrendsTalk episode with ITR Economics CEO and Chief Economist Brian Beaulieu to learn more.
Transcript by Rev
Hello. I'm Brian Beaulieu, CEO and Chief Economist of ITR Economics. Thank you for joining us for this edition of TrendsTalk. A little bit from now, we're going to be doing our webinar on the coming Great Depression of the 2030s, and there's a lot to talk about. But there is one part that we're going to draw your attention to because it doesn't get all the time that it deserves because timing is an issue.
We're going to show you a demographic chart of different countries, different ages broken down by percent of the population that they're projected to be come 2030. Most countries have a slight inversion of the pyramid because there's this global tendency for slower population growth. But in some of these countries, you're going to see there's a stark inversion where they become very, very top heavy in terms of older people up here and very few young people at the bottom of that pyramid.
When you see that inversion, it's where you're going to see the most restricted ability to rebound from the coming decline of the 2030s. Countries like China, Japan, Canada, Brazil, they're going to face a really tough uphill battle because of the demographics. Other countries like the United States, Mexico, very strongly positioned for making this rebound because of their demographics, and that's the key to the recovery on the other side of 2036 is, who has the young people?
Because those young people provide energy, money, purchasing power, and the adoption of new technologies that will not be as easy to come by in these other economies. I love our prospects. I love North America's prospects because Mexico [inaudible], and compared to other industrialized regions of the world, we're going to look great on the other side of 2036. I hope you're around to see it along with me. I'm looking forward to seeing it.
Thank you for joining us for this edition of TrendsTalk.