Tuesday, February 1, 2011

Europe's Economy to Undergo Vast Changes with Aging Population

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The aging population of baby boomers in Europe has many implications, but one of the most important is the way that this demographic will impact national economies. Experts are predicting that a significant loss of workforce coupled with high unemployment and deficit, many countries will completely restructure, according to The Guardian.

The prediction, coined "declinology," is a relatively new concept. Literature and studies are now being released that reveal that China, India and Brazil, with their growing populations, will likely surpass Europe in terms of economic power.

This is largely due to a lack of future workers in European countries - a recent report released by the bank HSBC has found that birth rates in the continent are too low to replace aging baby boomers in the workforce, according to The Telegraph.
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