June 10, 2019
Good afternoon. Today's PM is 523 words, a 2 minute read.
1 big thing: The global fear of too few young people
A new concern is taking hold across the developed world: rapidly aging populations that scare policymakers.
Why it matters: Population growth is key to maintaining demand for housing, filling jobs yet to be automated, and paying into pension systems pressed by demographic realities and slowing economic growth.
- "You basically have a very large portion of mankind that is aging and then the workforce is shrinking. But I would say the G20 in particular are aging faster," said Organization for Economic Co-operation and Development secretary-general Angel Gurria. (AFP)
The big picture: Some countries — like the U.S. — are feeling these issues less thanks to immigration. Others — like China and Japan — are more restrictive, and feeling the bite in projected growth.
- As societies get richer and women get more rights, they work more and have increased access to contraceptives.
- While Europe and East Asia are already projected to lose population by 2050, the Western Hemisphere will mostly add people, and Africa's population is projected to soar, per UN projections.
- The developing world is predicted to bear the brunt of climate change impacts, including potential political instability, meaning many more people might want to move to developed countries.
- As we've seen in Europe and the U.S. in recent years, that isn't going well.
The bottom line: Earth has plenty of workers to do the jobs we need, just not in the countries where the jobs are right now. Fixing that mismatch is shaping up to be a central political challenge for the upcoming decades.
Bonus: Charts du jour
Interactive chart here.
2. What you missed
- Trump threatened China with an additional $300 billion in tariffs if Chinese President Xi Jinping fails to appear at the G20 summit in Japan. Details.
- House Judiciary postponed the criminal contempt process for AG Bill Barr after reaching a deal with Justice to access underlying documents supporting the Mueller report. Go deeper.
- Ten U.K. Conservative Party candidates have qualified to take part in the race to replace outgoing PM Theresa May as the party's leader. Details.
- Impossible Foods is dramatically expanding its Bay Area presence with 111 Burger King restaurants in the greater San Francisco Bay Area beginning to offer a Whopper using the meat alternative. Go deeper.
3. 1 fun thing
19 Democratic candidates visited the Iowa Democratic Party's Hall of Fame yesterday to deliver a five-minute campaign pitch to a throng of state party activists — and they hit the stage with a walk-out song of their own choosing, per TIME's Lissandra Villa:
- Michael Bennet: "The Rising," Bruce Springsteen
- Cory Booker: "Lovely Day," Bill Withers
- Steve Bullock: "Small Town," John Mellencamp
- Pete Buttigieg: "Never Giving Up," Batchelor
- Bill de Blasio: "Rudie Can't Fail," The Clash
- John Delaney: "I've Been Everywhere," Johnny Cash
- Tulsi Gabbard: "Ain't No Mountain High Enough," Marvin Gaye and Tammi Terrell
- Kirsten Gillibrand: "Good as Hell," Lizzo
- Kamala Harris: "Work That," Mary J. Blige
- John Hickenlooper: "Good Life," OneRepublic
- Jay Inslee: "Mr. Blue Sky," Electric Light Orchestra
- Amy Klobuchar: "The Bullpen," Dessa
- Beto O'Rourke: "Clampdown," The Clash
- Tim Ryan: "Old Town Road," Lil Nas X feat. Billy Ray Cyrus
- Bernie Sanders: "Power to the People," John Lennon
- Eric Swalwell: "Caught Up in the Country," Rodney Atkins
- Elizabeth Warren: "9 to 5," Dolly Parton
- Marianne Williamson: "Higher Ground," Stevie Wonder
- Andrew Yang: "Return of the Mack," Mark Morrison