Where Data Tells the Story
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The world's largest economies are quietly running out of people.
Japan, Italy and Germany sit at one end: ageing populations, fertility rates well below replacement, and dependency ratios that will test public finances for a generation. India sits at the other, still young, still growing, with a median age 20 years below Japan's.
China is the uncomfortable middle case. Its fertility rate of 1.02 is the lowest in this group despite being less developed than most of the other 10 economies, but the full demographic consequences are still ahead of it.
The United States and the UK avoid the worst of it through immigration. Russia's skewed sex ratio and low life expectancy reflect, in part, the human cost of the war in Ukraine and the losses that will show up in demographic data for years.