HSBC: Aging Populations Hurt the Growth Rate in More Ways Than You Probably Realize
More productivity pain is in store.
Older people, softer productivity.
Photographer: Xaume Olleros/BloombergThis article is for subscribers only.
The graying of the globe—and advanced economies in particular—leaves economic growth caught between a rock and a hard place.
The direct negative impact of aging populations on growth has been well discussed, but economists at HSBC delve into the other channel through which this dynamic can further depress the global economy in a research note published on Monday.