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We’re just 44 years away from “peak human” — when the world’s population will begin to decrease, according to new projections published in The Lancet.

Breaking it down: By 2100, the populations of China, Japan and Italy are expected to be half of what they are today, while sub-Saharan Africa will be home to three times as many people.

  • This forecast puts the global population in 2100 some 2 billion below the UN’s estimate of 11 billion, with the peak also expected much sooner.
  • It factors in greater decreases in fertility rates due to increased access to education and contraception.
  • Immigration patterns and climate change will change the outlook, the authors note.
  • As birth rates fall and life expectancies climb, the world's population will get much older.

The big picture: The global population rose over the last 80 years from around 2.3 billion to 7.8 billion. If that rate of growth continued for another 80 years, it would rise to 26 billion by the turn of the next century.

  • Instead, if these forecasts hold up, we’ll be on the downslope from the global peak.

Worth noting: Some of the spikes projected in Africa by 2100 are mind-boggling. Niger's rise from 21 million to 185 million is like starting with New York state and then adding California, Florida, Illinois, Pennsylvania, Ohio and Texas, plus all of Canada, over the course of 80 years.

Go deeper

Dion Rabouin, author of Markets
Sep 30, 2020 - Economy & Business

Why the real estate boom could keep going for years

Illustration: Aïda Amer/Axios

Even after reaching all-time high average prices and sales numbers not seen since the height of the 2000s boom, the housing market still has lots of room to run, experts say.

What's happening: There were fears in late 2019 and early this year that price levels had outpaced income growth and become unsustainable — but record-low mortgage rates and promises by the Fed to keep U.S. interest rates at zero through at least 2023 have lit a new fire under the market.

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Updated 9 mins ago - Economy & Business

How central banks can save the world

Illustration: Aïda Amer/Axios

The trillion-dollar gap between actual GDP and potential GDP is a gap made up of misery, unemployment, and unfulfilled promise. It's also a gap that can be eradicated — if central banks embrace unconventional monetary policy.

  • That's the message from Eric Lonergan and Megan Greene, two economists who reject the idea that central banks have hit a "lower bound" on interest rates. In fact, they reject the idea that "interest rates" are a singular thing at all, and they fullthroatedly reject the idea — most recently put forward by New York Fed president Bill Dudley — that the Fed is "out of firepower."

Why it matters: If Lonergan and Greene are right, then central banks have effectively unlimited ammunition in their fight to increase inflation and employment. They are limited only by political will.

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  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases — Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  4. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.