Some fertility and AI forecasts

The 2024 forecast is particularly pessimistic about China’s fertility prospects. Both projections produce very substantial global aging, a major global capital glut producing very low long-run real capital returns. The latest forecast entails 10% lower global GDP in 2100 and far higher payroll tax rates to fund old-age benefits. Most important, it entails a major change in the course of economic hegemony with China’s 2100 global GDP share falling from 25.6% to 14.9% and the US share rising from ...