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> With an aging population and the need to maintain welfare states, governments will have to allocate more and more of future budgets to expanding and sustaini
by philipwhiuk 9mo ago
> With an aging population and the need to maintain welfare states, governments will have to allocate more and more of future budgets to expanding and sustaining welfare programs (statutory health insurance, pensions, unemployment benefits, etc.). That ultimately means higher taxes, a larger government workforce, and a shrinking private sector.
All of this is also true in the US.
- alephnerd 9mo agoAnd China excluding the welfare part - China has an extremely weak welfare system for a state at it's economic level and the Xi admin remains deeply opposed to what it derogatorily terms as "Welfarism" [0]. [0] - http://theory.people.com.cn/n1/2021/1116/c40531-32283350.html http://theory.people.com.cn/n1/2021/1116/c40531-32283350.htm...
- nradov 9mo agoThat's true of all developed countries to a degree, but the USA still has a significantly better demographic profile than the EU.
- overfeed 9mo agoMostly due to immigration into the US, and I wouldn't hang my coat on this staying the same.
- sajithdilshan 9mo agoNot really, US population would continue to grow, while EU declines[1] [1] https://ourworldindata.org/data-insights/india-china-europe-and-the-united-states-are-on-very-different-population-paths https://ourworldindata.org/data-insights/india-china-europe-...